“Even as we improve factory output, demand continues to run ahead of supply for all our businesses, especially for Xeon server CPUs where we expect sustained momentum this year and next.”

In context

“st recent annual report on Form 10-K, and other filings with the SEC provide more information on specific risk factors that could cause actual results to differ materially from our expectations. They also provide additional information on our non-GAAP financial measures including reconciliations, where appropriate, to our corresponding GAAP financial measures. With that, let me turn things over to Lip Bu. Lip Bu Tan: Thank you, John, and good afternoon, everyone. Q1 results demonstrate continued and steady progress across the business, reflecting strong demand for our products and disciplined execution to expand available supply. Revenue, gross margin, and earnings per share were all above the high end of guidance, marking our sixth consecutive quarter of exceeding financial expectations. Even as we improve factory output, demand continues to run ahead of supply for all our businesses, especially for Xeon server CPUs where we expect sustained momentum this year and next. Intel 3–based Xeon 6 and Intel 18A–based Core Series 3 products are now in full volume production ramp, and each represents the fastest new product ramp in five years. We are maximizing and optimizing our factory output to meet customer needs. It is our top priority. Intel is now a very different company than when I first joined over a year ago. We have taken, and continue to take, deliberate steps to rebuild Intel into a more competitive and more profitable company. Our cultural transformation is well underway, and we are embracing our roots as a data-driven, paranoid, and engineering-centric company. We are also listening closely to our customers and putting them at the center of everything we do. Intel processors are some of the most vital assets necessary to be successful and to flour”