Intel reported the largest quarterly losses in history
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The American company Intel, engaged in the production of microchips, suffered the largest quarterly losses in history against the background of reduced demand for PCs. This is reported by The Wall Street Journal.
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For the world’s leading manufacturer of computer components, this is already the second unprofitable quarter.
It is noted that the company’s net loss amounted to $2.76 billion, or $0.66 per share, compared with a net profit of $8.11 billion, or $1.98 per share, for the same period a year earlier.
Intel’s quarterly revenue fell 1.6 times — to $11.72 billion against the average forecast of $11.03 billion.
The revenue of the Client Computing Group division (including, in particular, the production of processors for PCs) decreased by 38% to $5.8 billion.
Read also: The manufacturer of microchips Intel cuts the size of quarterly dividends by almost a third. What is the reason?
Intel Chief Executive Officer Pat Gelsinger said there were “signals of stabilization in the PC market.” According to him, the reduction of production stocks is in accordance with expectations.
According to International Data Corp., shipments of PCs, which provide a significant share of Intel’s revenue, fell 29% in the first quarter compared to the same period last year.
It is noted that consumers began to actively buy computers, smartphones and other electronics at the beginning of the pandemic, but the situation changed last year, when people returned to their usual lifestyle.
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News editor Roman Myronchuk writes on the following topics: Economy, finance, banks, cryptocurrencies, investments, technologies
Source: Ministry of Finance
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