Summary
Intel Corporation (INTC) has filed an 8-K report on July 27, 2023, announcing its second-quarter 2023 financial results and providing forward-looking statements for the third quarter of 2023. The report primarily references a press release (Exhibit 99.1) which details these financial outcomes and outlook. Investors should pay close attention to the commentary within this press release for specific performance metrics and future expectations. The filing emphasizes the use of non-GAAP financial measures alongside GAAP results. Management utilizes these non-GAAP figures for operational insights and often in investor communications, such as earnings calls. While these measures are presented as useful for understanding the business, the report explicitly advises investors to review both GAAP and non-GAAP figures and their reconciliations carefully, as non-GAAP measures should not be considered a replacement for or superior to GAAP reporting.
Key Highlights
- 1Intel announced its Q2 2023 financial results and provided guidance for Q3 2023.
- 2The full details of the financial results and outlook are provided in an attached press release (Exhibit 99.1).
- 3The press release includes both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures.
- 4Intel management uses non-GAAP measures to provide additional insights into operational performance.
- 5Reconciliations between GAAP and non-GAAP financial measures are included in the press release.
- 6Investors are advised to carefully consider both GAAP and non-GAAP measures and their respective reconciliations.