Intel Reports Q4 2022 and FY 2022 Earnings: 2022 Goes Out on a Low Note

Kicking off yet another earnings season, we once again start with Intel. The reigning 800lb gorilla of the chipmaking world is reporting its Q4 2022 and full-year 2022 financial results, closing the book on what has turned an increasingly difficult year for the company. As Intel’s primary client and datacenter markets have reached saturation on the back of record sales and spending is slowing for the time being, Intel is seeing significant drops in revenue for both markets. These headwinds, though not unexpected, have broken Intel’s 6-year streak of record yearly revenue – and sent the company back into the red for the most recent quarter.

Starting with quarterly results, for the fourth quarter of 2022, Intel reported $14.0B in revenue, which is a major, 32% decline versus the year-ago quarter. With Intel coming off of what was their best Q4 ever just a year ago, as the saying goes: the higher the highs, the lower the lows. As a result, Q4’22 will go down in the books as a money-losing quarter for Intel (on a GAAP basis), with the company losing $661M for the quarter, a 114% decline in net income. Overall, Intel’s revenue for the quarter was low end of their already conservative forecasted range.

from AnandTech https://ift.tt/95PrGYq