Intel Swings to $3.73B Q1 Loss as Restructuring Costs Surge

Intel Corporation (NASDAQ: INTC), a global semiconductor manufacturer, reported a net loss of $3.73 billion for the quarter ending March 28, 2026, a more than fourfold increase from the $821 million loss posted in the same quarter a year earlier. The loss per share widened to $0.73 from $0.19. Read more earnings reports.

Revenue climbed 7.2% to $13.58 billion for the three months ending March 28, 2026, compared to $12.67 billion in the prior-year quarter. Cost of goods sold rose to $8.23 billion from $7.99 billion, pushing gross profit up 14.4% to $5.35 billion from $4.67 billion.

The company's operating loss ballooned to $3.14 billion from $301 million a year earlier, despite the revenue gain. Operating expenses nearly doubled to $8.48 billion from $4.97 billion in the year-ago period, driven by heightened restructuring and other charges.

Research and development spending declined to $3.38 billion from $3.64 billion, while selling, general and administrative expenses fell to $1.04 billion from $1.18 billion. The company recorded income tax expense of $335 million, up from $301 million in the prior-year quarter.

Cash from operations improved to $1.10 billion from $813 million year-over-year. Cash from investing activities totaled $3.09 billion compared to $81 million in the prior period, while financing activities consumed $1.21 billion versus $196 million a year earlier.

Intel's balance sheet showed total assets of $205.33 billion as of March 28, 2026, down from $211.43 billion at year-end 2025. Cash and cash equivalents increased to $17.25 billion from $14.27 billion during the quarter. Inventory rose to $12.43 billion from $11.62 billion.

Total liabilities stood at $93.94 billion, with long-term debt declining slightly to $43.03 billion from $44.09 billion at the end of 2025. Current liabilities decreased to $26.89 billion from $31.58 billion. Stockholders' equity fell to $111.39 billion from $114.28 billion, reflecting the quarterly loss.

The company had 5.02 billion common shares outstanding as of March 28, 2026, compared to 4.99 billion at year-end 2025. Weighted average diluted shares outstanding for the quarter totaled 5.08 billion, up from 4.34 billion in the year-ago period.

Property, plant and equipment increased to $13.00 billion from $12.20 billion at year-end. Goodwill declined to $20.47 billion from $23.91 billion, while intangible assets edged down to $2.72 billion from $2.77 billion.