Intel’s net loss to shareholders was $18.76 billion in 2024 as revenue fell 2.1% to $53.1 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Intel said in its annual report, a Form 10-K filed on Jan 31, 2025, that revenue for the year to Dec 28, 2024 was $53.1 billion, down 2.1% from $54.23 billion a year earlier. The net loss attributable to Intel’s shareholders was $18.76 billion, against net income of $1.69 billion a year earlier, or a diluted loss of $4.38 a share against earnings of $0.40. Counting the part of its subsidiaries that belongs to other holders (non-controlling interests), the consolidated net loss was $19.23 billion, against net income of $1.68 billion.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

Intel’s earnings release, filed on Jan 30, 2025, shows restructuring and other charges of $6.97 billion for the year, against a benefit of $62 million a year earlier. The release says the 2024 charges mainly come from the 2024 Restructuring Plan, which it describes as primarily cash severance and benefits plus real estate exits, and that they include non-cash charges from impairing goodwill and certain acquired intangible assets. David Zinsner, Intel’s interim co-CEO and chief financial officer, says in the release that the cost reduction plan announced last year is having an impact. Intel also recorded a provision for income taxes of $8.02 billion on a loss before taxes of $11.21 billion. The release ties a non-cash charge in that tax line to an allowance against its US deferred tax assets, set up because of a historical cumulative loss for GAAP purposes, and its reconciliation lists the adjustment at $9.925 billion. On Intel’s own non-GAAP measure, which adds back items including those restructuring charges and that allowance, the net loss attributable to Intel for the year was $566 million.13^,14^,15^,16^,17^,18^,19^,20^,21^,22

Intel Products had revenue of $48.95 billion, up 2.7%; within it, the Client Computing Group (CCG), which the release links to the AI PC category, brought in $30.29 billion, up 3.5%. Intel Foundry had revenue of $17.54 billion, down 7.2%, and an operating loss of $13.41 billion, against $6.96 billion a year earlier. The segment revenues overlap: the release’s table subtracts $17.2 billion of intersegment eliminations, which are sales between Intel’s own segments, to reach the $53.1 billion total. Intel says it recast all prior-period segment data to match the segment reporting it began using in the first quarter of 2024, so the year-earlier segment figures here are the recast ones. The release also says that after the inaugural meeting of the x86 Ecosystem Advisory Group, Intel and AMD began work on architectural features meant to enable compatibility across platforms and simplify software development.23^,24^,25^,26^,27^,28^,29^,30^,31^,32^,4^,33^,34

This article rests on the 10-K’s tagged figures and on the earnings release, so what management says drove the year comes from the release alone. Our records keep one value for each period of a company that files with the SEC, so they cannot tell whether the year-earlier figures here were restated.35^,36