$2.8 billion in Intel losses.

2023-04-28 22:03:09

Chip giant Intel ended last quarter with another drop in sales and losses in the billions, with no end in sight to the revenue slump.

Intel reported a quarterly loss of $2.8 billion, compared to a net profit of $8.1 billion a year earlier.

Intel said after the US stock market closed that revenue fell 36% year-on-year to $11.7 billion. The leading manufacturer of processor chips is suffering in light of the slowdown in the computer market after a boom during the (Covid 19) pandemic. Data center and artificial intelligence revenue fell again, and the division’s sales fell 39% to $3.7 billion. For the current quarter, Intel expects revenue between $11.5 and $12.5 billion.

1682742881
#billion #Intel #losses