英特尔发布2025年第四季度及全年财报

新闻要点

• 第四季度营收137亿美元，同比下降4%。全年营收529亿美元，与去年持平。上述同比数据尚未针对2025年第三季度剥离Altera业务进行调整。
• 英特尔第四季度每股收益（EPS）为-0.12美元；非通用会计准则（Non-GAAP）每股收益为15美元。全年每股收益为-0.06美元；非通用会计准则每股收益为0.42美元。
• 预计2026年第一季度营收为117亿美元至127亿美元；预计第一季度英特尔每股收益为-0.21美元，非通用会计准则每股收益为00 美元。

美国加利福尼亚州圣克拉拉，2026年1月23日 – 英特尔公司发布了2025年第四季度及全年财报。

英特尔首席执行官陈立武表示：“公司对CPU在AI时代不可或缺的作用信心坚定。我们以稳健的表现为这一年画上了坚实的句号，并在打造新英特尔的征程上取得进展。我们成功推出首批基于Intel 18A制程——迄今为止英特尔最先进的半导体制程工艺的产品——这标志着一个重要里程碑。我们正积极扩大供应，以满足强劲的客户需求。我们的重点十分明确：强化执行力，重振工程卓越性，并充分把握AI为我们所有业务带来的巨大机遇。”

英特尔首席财务官David Zinsner表示：“尽管面临全行业供应短缺的挑战，公司第四季度的营收、毛利率和每股收益方面均超出预期。公司预计，可用供应量将在第一季度降至最低水平，随后从第二季度起逐步改善。随着AI的快速普及，x86生态系统作为全球广泛部署的高性能计算架构的重要性日益凸显，核心市场的基本面需求依然稳健。”

2025年第四季度财报

通用会计准则与非通用会计准则指标调节表完整内容请见原文。

*无比较意义

第四季度，公司从运营中产生了43亿美元的现金。

2025年全年财报

通用会计准则与非通用会计准则指标调节表完整内容请见原文。

*无比较意义

2025年，公司从运营中产生了97亿美元的现金。

业务部门总结

2025年第一季度，公司实施了组织架构调整，将网络与边缘事业部（NEX）整合至客户端计算事业部（CCG）和数据中心与人工智能事业部（DCAI），并据此修订业务分部报告，以配合此次架构调整及相关业务调整。所有历史期间的业务部门数据已追溯调整，以体现英特尔内部接收信息及管理和跟踪各业务部门绩效的方式。自2025年9月12日起，在Altera（前身为英特尔全资子公司）所发行的51%普通股完成出售后，Altera已从英特尔的合并财务报表中剥离。截至2025年9月11日，Altera的经营业绩均包含在英特尔的合并财务业绩及其“其他所有”业务单元类别中。英特尔合并财务报表的前期数据并未发生任何变化。

[1]各业务部门收入数据包含部门间交易，且数据以实际值和四舍五入值呈现，因此合计值可能存在尾差。

业务亮点

• 英特尔发布了第三代英特尔^®酷睿™ Ultra处理器系列，这是首款基于Intel 18A制程节点打造的AI PC计算平台。该产品将为全球领先的OEM厂商的200多款产品设计提供强劲算力，覆盖从高端到主流的笔记本电脑、游戏掌机、机器人及工业边缘设备，并有望成为英特尔有史以来应用最广泛、覆盖范围最广的AI PC平台。
• 英特尔与思科宣布，合作开发面向分布式AI工作负载的集成平台。基于英特尔^® 至强^® 6系统级芯片（SoC），思科Unified Edge平台将计算、网络、存储和安全功能部署至数据产生的源头，支持边缘侧的实时AI推理与智能体工作负载。同时，英特尔将其数据中心与AI业务整合至数据中心事业部执行副总裁兼总经理Kevork Kechichian的管辖下，以确保CPU、GPU及平台战略间的紧密协同。
• Intel 18A制程已在亚利桑那州和俄勒冈州实现大规模量产，进一步巩固了英特尔同时致力于尖端及下一代半导体制造技术的研发和设计，并采用先进制程节点进行逻辑芯片大规模制造的独特优势。英特尔代工与ASML共同验证了先进光刻机的技术可行性，该设备能提供更高的精度与生产效率，为未来在大规模制造中采用高数值孔径（High NA）极紫外光刻技术奠定了基础。
• 英特尔强化了领导团队，任命Cindy Stoddard为高级副总裁兼首席信息官，Robin Colwell为政府事务高级副总裁，Annie Shea Weckesser为高级副总裁兼首席营销与传播官。公司还宣布了任命Craig H. Barratt博士为董事会独立董事。
• 英特尔已完成向英伟达出售价值50亿美元的普通股，此举进一步增强了公司的资产负债表与战略灵活性。

业绩前瞻

英特尔对2026年第一季度的指导包括以下根据通用会计准则和非通用会计准则的预估：

通用会计准则和非通用会计准则财务指标之间的调节表已示于原文。实际业绩可能与英特尔业务展望存在较大差异，原因包括但不限于前瞻性声明部分所述之因素。毛利率与每股收益（EPS）展望基于营收区间中值计算得出。

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关于英特尔

英特尔（纳斯达克股票代码：INTC）专注于先进半导体的设计与制造，连接并驱动现代世界。每天，我们的工程师都在不断创造新技术，塑造计算的未来，为我们服务的客户创造更多可能。如需了解英特尔更多信息，请访问英特尔中国新闻中心 newsroom.intel.cn 以及官方网站 intel.cn。

©英特尔公司，英特尔、英特尔logo及其它英特尔标识，是英特尔公司或其分支机构的商标。

*文中涉及的其它名称及品牌属于各自所有者资产。

前瞻性声明

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Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.

Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.