Intel released its Q4 and full-year 2022 earnings on Thursday, missing expectations across the board.
The chipmaker posted Q4 revenue of $14B, down 32% YoY and a net loss of $664M, 16 cents a share, compared to a net income of $4.62B reported during the same period a year ago. Full-year revenue was $63.1B, down 20% YoY.
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- This was Intel’s fourth straight quarter of declining sales.
- The company’s Client Computing unit, which includes its PC chips, generated $6.63B in revenue, down 36% YoY.
- CEO Pat Gelsinger said the company faces persistent economic headwinds.
- The company expects Q1 FY 2023 revenue between $10.5B and $11.5B and an adjusted net loss of 15 cents per share.
- The company announced a $0.365 per share dividend payable on March 1.
- Intel shares fell more than 8% in extended trading on Thursday; it closed at $28.16 on Friday, down ~6.4% for the day.