Intel sees huge drop in profits as PC and server markets fall

Date:
Fri, 27 Jan 2023 12:15:51 +0000

Description:
Intel reports a huge dropoff in 2022 profits, but its report might contain some hidden light.

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Intel has announced its end-of-year figures for 2022, revealing that its
total annual revenue was $63.1 billion, down 20% from $79 billion in 2021, with net income and earnings per share both down 60% compared with the year prior.

The fourth fiscal quarter of 2022 was also a tough period for the company, which reported a 32% drop in revenue during the three-month period, but even so, it was a time of testing boundaries.

A partnership with Asus saw the company push its 13th Gen Intel Core
i9-13900K processor past the 9GHz mark, while the family of 13th Gen Intel Core K Series processors became available for desktops. Intel forecasts for 2023

Despite officially posting what was one of the worst performing years in a long time, its clear that the company remains optimistic. In Q1 2023, Intel released its latest-generation Xeon Scalable processors with performance computing and servers in mind. Read more

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Despite the economic and market headwinds, we continued to make good progress on our strategic transformation in Q4, including advancing our product
roadmap and improving our operational structure and processes to drive efficiencies while delivering at the low-end of our guided range," said Intel CEO Pat Gelsinger.

Its Gelsingers next words that give us a glimmer of hope, though, as he continued to explain that the tech giant will continue to navigate the short-term challenges to meet its long-term commitments.

Theres no denying that a tough period remains ahead of us, but Intels prediction that this is a short-term struggle should see things return to
some sort of normality sooner rather than later we hope. Check out the best business laptops around today



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Link to news story: https://www.techradar.com/news/intel-sees-huge-drop-in-profits-as-pc-and-serve r-markets-fall


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