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Global Chip Giant Intel's Results Fall Four Straight

Update time : 2023-01-30 14:06:42

Global chip giant Intel recently announced its fourth quarter and full-year results for 2022. As of December 31, 2022, Intel's fourth-quarter revenue was $14 billion, down 28% year-over-year; the company's full-year revenue was $63.1 billion, down 16% year-over-year. Together with the first three quarters of 2022, Intel has now recorded "four consecutive" quarterly revenue declines.
Due to the decline in sales of personal computer chips, Intel's revenue was $6.63 billion in the client computing business unit in the fourth quarter of 2022, down 36 percent year-over-year and below market expectations of $7.68 billion.
This is despite Intel CEO Pat Kissinger saying on a conference call that PC usage numbers remain strong, even as the economy releverts to liberalization and demand from usage scenarios driven by the epidemic continues. And strong usage demand is about 10% higher than before the epidemic. Previously, however, Intel expected the total target market for personal computers to be 270 million to 295 million units in 2023. And on the conference call Intel said it now expects the market to be at the end of that range.
As for Intel's Data Center and Artificial Intelligence Division and Networking and Edge Division, fourth-quarter revenue was $4.3 billion and $2.06 billion, down 33 percent and 1 percent year-over-year, both below general market expectations.
However, Intel Foundry Services (IFS) and its subsidiary Mobileye performed relatively well. And Mobileye, which debuted on Nasdaq in the fourth quarter, delivered a 59 percent year-over-year increase in revenue to $565 million.
In trading after the earnings release, Intel shares fell for a time as guidance came in well below expectations, with a cumulative decline of about 42 percent over the past 12 months.

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