selective focus photography of motherboard

Intel Inc. posts loss in Q4 2022, revenue drops 32%

Intel Inc., a major US chip maker, posted a loss in the fourth quarter of 2022, with revenue dropping 32% year over year to $14.0 billion. This marks a fourth consecutive quarter of decline for the company, as the personal computer (PC) market slowed down after being booming during the COVID-19 pandemic.

According to Intel’s earnings report, the company posted a net loss of $664 million in Q4 2022, compared to a net profit of $4.62 billion in Q4 2021. The company’s earnings per share (EPS) also fell, with a loss of 16 cents per share in Q4 2022, compared to a profit of $1.42 per share in the same quarter of 2021.

Intel’s CEO said that the company is facing uncertainty in the current environment and expects to deal with a recession in the first half of 2023. As a result, the company has not disclosed its earnings forecast for the full year of fiscal 2023.

In addition to the disappointing fourth-quarter results, Intel also predicted a further loss in the first quarter of 2023, with a loss of 15 cents per share and revenue forecasted to be between $105-115 billion. This forecast beat analysts surveyed by Refinitiv, who had expected Intel’s earnings to be 24 cents per share and revenue to be $13.93 billion.

In response to the news, Intel shares fell more than 9% in after-hours trading on the New York Stock Exchange.

Leave a Reply

Change Language
%d bloggers like this: