In the company’s first-quarter earnings results (PDF) on Wednesday, Intel reported earnings per share were down 133% for the year. “Revenue fell almost 36% year-over-year to $11.7 billion,” he added. From the report: Intel swung from last year’s net income of $8.1 billion ($1.98 per share) to a net loss of $2.8 billion (66 cents per share) in the first quarter. Excluding the impact of inventory restructuring, recent employee stock option changes and other acquisition-related costs, Intel lost 4 cents per share, a smaller loss than analysts expected. Revenue decreased to $11.7 billion from $18.4 billion a year ago.
The semiconductor giant’s sales fell for the fifth straight quarter and posted losses for the second straight quarter. It was also Intel’s biggest quarterly loss ever, surpassing his $687 million loss in the fourth quarter of 2017. Intel will be able to make chips as advanced as those made by Taiwan’s TSMC by 2026 so it can compete in custom work like Apple’s A-series his chips in his iPhone. I hope to become Intel said on Thursday it was still on track to meet its targets.
Intel’s Client Computing Group, which includes the chips that power the majority of Windows PCs in desktops and laptops, reported revenue of $5.8 billion, down 38% on an annual basis. Intel’s server chip division worsened under its data center and AI segments, dropping 39% to $3.7 billion. Net sales for the company’s smallest full-line business, Network and Edge, were his $1.5 billion, down 30% from the year-ago quarter. One bright spot is Mobileye, which went public last year but is still controlled by Intel. Mobileye, which makes systems and software for self-driving cars, reports a 16% increase in sales to $458 million.
