Intel delivers a weak financial report

Intel reported Q4 revenue of $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Full-year revenue was $63.1 billion, down 20 percent YoY and down 16 percent YoY on a non-GAAP basis. Q4 earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. Full-year EPS was $1.94; non-GAAP EPS was $1.84.

"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 efciencies while delivering at the low-end of our guided range. In 2023, we will continue to navigate the short-term challenges while striving to meet our long-term commitments, including delivering leadership products anchored on open and secure platforms, powered by at-scale manufacturing and supercharged by our incredible team," stated Pat Gelsinger, Intel CEO.

Quarterly revenue for the Client Computing Group (CCG) was down 36% compared to last year, while sales for Data Center and AI (DCAI) was down 33%.  The Network and Edge (NEX) group was down only 1%, while Mobileye grew 59% compared to a year earlier.  The Intel Foundry Services business recorded $319 million in sales for the quarter, up 30% compared to a year earlier.

Looking ahead to the current Q1 2023, Intel is forecasting a deeper loss of $(.80) per share for the quarter.

https://www.intc.com/news-events/press-releases/detail/1600/intel-reports-fourth-quarter-and-full-year-2022-financial