In the red: Intel registers worst result in history with a loss of US$ 2.8 billion

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In the red: Intel registers worst result in history with a loss of US$ 2.8 billion
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Intel released its results for the first quarter of 2023 and the numbers are not encouraging. According to the company, semiconductor revenue fell 36% with a 133% reduction in earnings per share compared to the same period in 2022. The net loss for the period was US$ 2.8 billion, this being its worst result in history.

In detail, Intel’s semiconductor revenue at the beginning of 2023 was US$ 11.7 billion, which made the company’s shares fall 2%, equaling US$ 0.04 with profit of US$ 0.01 per share, becoming Intel’s fifth straight quarter of falling sales and second consecutive loss.


The reduction in profits and revenues also affected other areas of the company such as processors for home users, where the drop in revenue was 38% compared to last year with US$ 5.8 billion.

Revenue from data center and AI products fell 39% to $3.7 billion. The smallest decline was in the Network and Edge sector, which sold $1.5 billion worth of products, a 30% decrease.

Intel’s second worst quarter was the last of 2017, when a loss of $687 million was recorded in the company’s coffers. To try to recover, now Intel has announced a cost-cutting program, which will allow it to save US$ 3 billion in 2023 and up to US$ 10 billion per year until 2025.

Other changes to the company include its exit from the 5G modem market, with its operations being sold to MediaTek. Despite this, Intel closed a partnership with ARM to develop processors for mobile devices.

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