In this video, I will be going over Intel's (INTC -3.45%) Q1 earnings report and talking about its plans for the next couple of quarters. You can find the video below, but here are some highlights.

• For the first quarter, Intel reported earnings per share (EPS) of $0.87, a decrease of 35% year over year, beating its own guidance by $0.07.
• Revenue came in at $18.4 billion, down 1% year over year (YOY) and beating estimates by $0.1 billion.
• Gross margin was 53.1%, 1.1 percentage points above guidance and down 5.7 percentage points YOY. 
• The company expects Q2 revenue to come in at $18 billion, down 3% YOY. It expects gross margin of 51%, down 8.8 percentage points YOY, and EPS of $0.70, down 49% YOY.
• For the full year, it expects revenue to be up 2% YOY, to $76 billion, and gross margin of 52%, which surprised a lot of analysts, seeing how weak Q2 will be and the uncertainty around shortages, lockdowns in China, and the war in Ukraine. The company also expects EPS to come in $0.10 higher than the previous outlook of $3.60. 
• The main reason it is so confident is that all the new products that will launch in the second half of the year will have much better performance features and also higher average selling prices.
• Intel Foundry Services hit a $1 billion run rate for the first time.
• The Accelerated Computing Systems and Graphics Group (AXG) business is on track to generate over $1 billion in revenue. The first laptops with Intel Arc 3 GPUs are available now, with Intel Arc 5 and 7 to come later this year. 

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*Stock prices used were the closing prices of April 28, 2022. The video was published on April 29, 2022.