Q1 2026 Intel Corp Earnings Call Transcript
Key Points
- Intel Corp (INTC) exceeded financial expectations for the sixth consecutive quarter, with revenue, gross margin, and earnings per share above guidance.
- The company is experiencing strong demand for its Xeon server CPUs, with sustained momentum expected throughout the year.
- Intel Corp (INTC) has made significant progress in its foundry technology development, with Intel 4, Intel 3, and 18A yields running ahead of internal projections.
- The company's AI-driven businesses now represent 60% of revenue and grew 40% year over year.
- Intel Corp (INTC) has established a multiyear collaboration with SambaNova to design a next-generation heterogeneous AI inference architecture.
- Despite improved factory output, demand continues to outpace supply, particularly in the client CPU market.
- Intel Foundry reported an operating loss of $2.4 billion in Q1, although it showed some improvement quarter over quarter.
- The company is facing rising input costs, especially in memory, which could impact gross margins in the second half of the year.
- Intel Corp (INTC) anticipates PC demand to weaken in the second half of the year, with the full-year PC unit TAM expected to be down in the low double digits.
- The company is experiencing constraints and rising prices around key components like memory, wafers, and substrates, which could impact demand for its products.
Thank you for standing by, and welcome to the Intel Corporation earnings first-quarter earnings -- 2026 earnings conference call. (Operator Instructions) As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Mr. John Pitzer, Corporate Vice President of Investor Relations. Please go ahead, sir.
Thank you, Jonathan, and good afternoon to everyone joining us today. By now, you should have received a copy of the Q1 earnings release and earnings presentation, both of which are available on our Investor Relations website, intc.com. For those joining us online today, the earnings presentation is also available in our webcast window. I am joined today by our CEO, Lip-Bu Tan; and by our CFO, David Zinsner.
Lip-Bu will open with comments on first quarter results, as well as provide an update on the progress we're making on our strategic priorities. Dave will then discuss our overall financial results, including second quarter
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