On Friday, Shares of Intel Corporation (NASDAQ: INTC) declined -6.94% to $43.59. The stock recorded $43.50 as its minimum price and hit the max level of $45.35, during its most recent trading session. It traded total volume of 70,703,165 shares higher than the average volume of 35.91M shares.
Gross margin for the quarter was 53.00 Percent, exceeding our guidance by 100 basis points on improved manufacturing yields and lower factory costs. EPS was $0.87, $0.07 above our guide on higher gross profit and slightly lower operating expenses. Operational cash flow for the quarter was $5.90B and we received an additional $4.60B from the McAfee equity sale. Total cash and investments increased by $9.70B in the quarter to $39.00B, driven by the NAND divestiture and McAfee sale.
Capex for the quarter was $4.60B. Now turning to our newly formed business unit results. CCG revenue was $9.30B, down 13.00 Percent year over year on ramp-down of the Apple CPU and modem business, the expected OEM inventory burn we cited in our Q4 call as well as lower consumer and education demand. CPU ASPs were up greater than 25.00 Percent year over year on richer mix and strong demand for our high-end mobile and desktop products across both our commercial and consumer segments.
Operating profit was down 34.00 Percent year over year on lower revenue, increased 10-nanometer and Intel 7 mix and increased spending to further strengthen our product and platform road map. DCAI revenue was $6.00B, up 22.00 Percent year over year on strong Xeon demand from both our hyperscale and enterprise customers. DCAI operating profit was flat year over year as increased revenue was offset by increased 10-nanometer mix, factory start-up charges, and increased investment in our technology and product road map. NEX achieved all-time record quarterly revenue of $2.20B, up 23.00 Percent year over year on broad-based strength across the cloud, networking, and niche product lines.
Operating profit was $366.00M, up 51.00 Percent year over year on higher revenue, offset by increased investment. Mobileye achieved all-time record quarterly revenue of $394.00M, up 11.00 Percent sequentially and 5.00 Percent in comparison to Q1 ’21, which saw exceptionally strong auto production and pipeline rebuilding due to COVID-related recovery last year. Operating profit was $148.00M, down 13.00 Percent year over year on increased investment in next-generation products. AXG revenue was $219.00M, up 21.00 Percent year over year on the ramp of its supercompute and Alchemist discrete GPU products.
Operating loss was $390.00M versus an operating loss of $176.00M in Q1 ’21, with the increase driven by new product qualification reserves on our Alchemist and Arctic Sound products, production ramp charges, and increased investment. IFS revenue was $283.00M, up 175.00 Percent year over year on increased IMF tool shipments, increased automotive demand, and initial revenue from Amazon and Cisco. Operating loss was $31.00M, roughly flat year over year as revenue and gross margin increases were offset by increased investment to build out the custom foundry business. Moving to our full year and Q2 guidance.
As Pat mentioned earlier, we continue to see strong end-user demand for our products across each of our business units and we reaffirm our revenue guidance of $76.00B, as lower than previously expected PC revenue is offset by NEX growth and DCAI hyperscale customer strength. More specifically, in our PC business, we continue to see strong commercial demand, offset by low-end consumer and education softness and the impact of no longer shipping to customers in Russia and Belarus. Further, component supply constraints continue to be a challenge with the most recent COVID lockdowns in Shanghai, further increasing supply chain risk and contributing to inflationary pressures that are having a negative impact on PC TAM for the year. As a result, we’re seeing OEMs continue to lower inventory levels to better match demand and align with other system components.
We expect elements of this inventory burn to continue in Q2, subsiding in the second half of the year. Although these headwinds have reduced our CCG revenue forecast, we expect CCG revenue to increase in the second half of the year as a return to normal seasonality boost demand, OEM inventory burn subsides and the ramp of our leadership, Alder Lake and Raptor Lake products position us to compete per share. For DCAI, we also expect to see a stronger second half of the year as hyperscale customer demand remains robust, component supply improves and the ramp of Ice Lake and Sapphire Rapids increased competitiveness. For NEX, we expect the strength we saw in Q1 to continue with growth throughout the year, fueled by improving component supply, and continued 5G ramp, and transformation at the edge.
For AXG, we continue to expect full-year revenue greater than $1.00B, driven by the launch and ramp of the Alchemist, Arctic Sound M, Ponte Vecchio and Blockscale products. Finally, we expect to see second-half growth in each of our two remaining businesses, Mobileye and IFS, as they ramp new products and secure new customers. For gross margin, we’re guiding 52.00 Percent, in line with the 51.00 Percent to 53.00 Percent range previously communicated. Note that the inflationary environment creates a headwind that we are continuing to monitor but we remain confident in our ability to mitigate the impact through continued cost reduction programs as well as increased pricing in certain segments of the business.
For EPS, we’re guiding $3.60, $0.10 higher than prior guide on the Q1 beat and a slightly improved tax rate of 12.00 Percent. Finally, net capex guidance of $270B and moderately negative adjusted free cash flow for the year remain unchanged. We have made significant progress on our smart capital initiatives, and we’ll continue to manage within the framework communicated at Investor Day. Moving to Q2 guidance.
For revenue, we’re guiding $180B, down 2.00 Percent sequentially on the short-term headwinds detailed earlier and the impact of an additional 14th week in Q1. For the lockdowns in Shanghai, we’re estimating the impact to be relatively contained under the assumption that these restrictions are nearing an end. Even under a short lockdown, we anticipate it will take some time for the supply chain to normalize. And if the lockdowns persist or spread beyond Shanghai, we could see more material impacts to our outlook.
For gross margin, we’re guiding 51.00 Percent, down approximately 200 basis points sequentially on increased 10-nanometer and Intel 7 mix and Raptor Lake prequalification reserves. We had always expected Q2 gross margin to be at the low end of our range and with our full-year guide of 52.00 Percent, we expect gross margin to inflect upward in the second half of the year as revenue increases and inventory reserve sell-through.
INTC has the market capitalization of $184.24B and its EPS growth ratio for the past five years was 18.10%. The return on assets ratio of the Company was 12.40% while its return on investment ratio stands at 13.20%. Price to sales ratio was 2.33 while 64.70% of the stock was owned by institutional investors.