Los Angeles, April 28, (dpa/GNA) – Chip giant Intel closed the past quarter with another slump in sales and a loss in the billions, with no end to its dry spell appearing in sight.
Intel posted a quarterly loss of $2.8 billion compared to a net income of $8.1 billion a year earlier. Revenue fell 36% year-on-year to $11.7 billion, Intel said after the US stock market closed on Thursday.
On the one hand, the processor chip pioneer is struggling with the cooling of the PC market after the boom in the Covid-19 pandemic – business shrank by 38% to $5.8 billion year-on-year.
Data centre and artificial intelligence revenue also went down again: the division’s sales fell by 39% to $3.7 billion. For the current quarter, Intel expects revenues between $11.5-$12.5 billion.
“While we remain cautious on the macroeconomic outlook, we are focused on what we can control as we deliver,” said Intel boss Pat Gelsinger. “Driving consistent execution across process and product roadmaps and advancing our foundry business to best position us to capitalize on the $1 trillion market opportunity ahead.”
Gelsinger, who has been in charge at Intel for just a year, is taking the firm on a massive investment drive. This has included new factories in Germany, several US states as well as in Malaysia.
Supply problems with semiconductors over the past year have slowed down the production of cars in Europe.
Intel share initially rose by 4% in after-hours trading as analysts had expected even worse numbers. A little later shares dropped to -1.5%.
GNA