Intel earned 8,014 million dollars in 2022, 60% less

The manufacturer of microchips and electronic equipment Intel announced this Thursday that it earned 8,014 million dollars in 2022, 60% less year-on-year, after registering losses in the fourth quarter as a result of a “strategic transformation”.

The company saw its annual turnover fall by 20%, to 63,054 million, coming mostly from its client computing division (31,700 million) and its data center and artificial intelligence (19,200 million), although its sales fell by 23 % and 15%, respectively.

With a lower turnover but a growth in sales were its Mobileye autonomous car business (1.9 billion, 35% more), its division of accelerated computing and graphics systems (837 million, 8% more) and its services of foundry (895 million, 14% more).

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Last October, the technology company anticipated worse results than expected for the 2022 financial year as a whole and announced a plan to reduce costs and improve efficiency for a value of 10,000 million dollars, which it will undertake over three years.

Because of this, in the fourth quarter a loss of 664 million was recorded (it earned 4,623 million in that section of 2021), while its turnover fell 32%, to 14,042 million.

In the first quarter of 2023, it also expects losses, as indicated in a statement.

Intel is focused on reclaiming its lead in chipmaking, but is suffering from weaker PC sales after strong demand linked to the pandemic has subsided, a trend that is also hitting companies in “hardwarelike Microsoft.

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In August, the company signed a $30 billion investment plan with Brookfield Asset Management, a major Canadian fund, to boost semiconductor manufacturing in the United States and thus compete with Asian countries.

The results, published at the close of Wall Street, were not well received by investors and the shares of the technology fell 7% in subsequent electronic operations. The listed company has lost 37% of its value in the last year.

Source: EFE