Intel reported first-quarter results on Thursday that showed a staggering 133% annual reduction in earnings per share. Revenue dropped nearly 36% year over year to $11.7 billion.
For the second quarter, Intel expects to lose 4 cents per share on revenue of $12 billion. That forecast is shy of analyst expectations for earnings of 1 cent per share on $11.75 billion in sales, according to Refinitiv.
In the first quarter, Intel swung to a net loss of $2.8 billion, or 66 cents per share, from a net profit of $8.1 billion, or $1.98 per share, last year.
It’s the fifth consecutive quarter of falling sales for the semiconductor giant and the second consecutive quarter of losses. It’s also Intel’s largest quarterly loss of all time, beating out the fourth quarter of 2017, when it lost $687 million.
Intel’s Client Computing group, which includes the chips that power the majority of desktop and laptop Windows PCs, reported $5.8 billion in revenue, down 38% on an annual basis.
Intel’s server chip division, under its Data Center and AI segment suffered an even worse decline, falling 39% to $3.7 billion.
MacDailyNews Take: Here’s an idea for Intel. Something at which they’d excel: Hotplates.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
But somehow, their stock magically goes up. WTF!
For most consumers M1-M2 computers are faster than comparable Intel chips. But for Mac PRO laptop users, Intel still leads in some areas, and Apple leads in battery life and quiet performance: So, the snail artwork is a bit deceiving and not that cut and dry.
“Intel has a faster processor than M2 Max, but at what cost?” Compare both here:
https://appleinsider.com/articles/23/02/19/m2-max-vs-intel-i9-13980hx-what-price-pure-performance
Regarding Mac PRO workstations Threadripper and i9 extreme chips blow Apple of of the water for the high prices they charge…
I have absolutely no joy in seeing a (once) great American company falter, period…but also as one critical in a strategic realm. Also, as far as I know, they’ve never had a dumb-a like Ballmer or Lazaridis spewing idiocy.
I do wonder if it’s got to the point that Intel like so many companies before it has become an anchor to US and indeed Western chip ascendancy effectively taking the market down a dead end of slow painful decline when it would for most and eventually all the industry to go down the Arm or other risc chip platforms. To gain the speed at the top end to still post those superior numbers to A Class chips they become increasingly and inevitably due to its design, inefficient, hot and costly. They are trying to handle that by introducing some risc style modifications but in reality you are just adding a bit of cream to a turd and increasing more complexity and cost without the ability to create a clean design without losing its captive market and the one design advantage it retains. Meanwhile its losing the low and increasingly even middle sectors as mobile compatibility not server starts to dictate. With Microsoft increasingly committed to its own Arm design platform where is this all leading, I think we can guess. So committing to innovative companies to exploit these changes is the best solution rather than supporting a dinosaur. For the present however that will be unpalatable and we will keep hearing about revitalisation plans. The only one that makes sense is it’s belated commitment to Arm chip fab but all seems to late to me.
Unfortunately they did and he is responsible for putting them squarely on the path leading them to their downward spiral. Brian Krzanich was the Intel version of Ballmer. And perhaps even worse than Ballmer. He probably did more damage to Intel than Ballmer did to Microsoft.
He was an arrogant know it all, who in fact knew nothing. Completely whiffed on mobile, refused to listen to the engineers who warned him repeatedly of things going wrong, among many other things. And was a total jerk on top of it all. It got to the point where the board finally realized it had to get rid of him and dug up an “inappropriate relationship” from years ago to use as an excuse to get rid of him.
Intel was a shining light among tech companies for many decades. Among the best and the brightest. Hopefully they can find their way back at some point. Time will tell. Andy Grove must be rolling over in his grave.
Isn’t “beleagured” a registered trademark of Apple?
Beleaguered is a word best used to describe a website covered with ads from the top competitors to the company the website claims to endorse, plus overt panhandling on every page.
It takes a special kind of genius to lose money as a chip manufacturer when the world is facing a years-long chip shortage…