Intel's Q4 2023 Earnings Beat Expectations, But Q1 2024 Outlook Disappoints

Data Center and AI Segment Underperforms, Client Computing Group Shows Recovery

Intel's Q4 2023 earnings exceeded expectations with a non-GAAP revenue of $15.40 billion, beating the consensus of $15.17 billion, and a non-GAAP EPS of $0.54, surpassing the expected $0.45.
However, Intel's Q1 2024 outlook disappointed, forecasting a revenue between $12.2 billion and $13.2 billion, and an EPS of 13 cents, both below analysts' expectations.
Intel's Data Center and AI (DCAI) segment underperformed, with a 10% decline in revenue to $4 billion.
The company's Client Computing Group (CCG) reported a 33% increase in revenue to $8.8 billion, indicating a recovery in the PC market.
Intel's stock fell by about 6% in after-hours trading following the announcement.