Intel’s annual figures are out. Revenue staggered over 2022. The chip giant said it expects a setback in the first quarter of 2023.
Intel generated €58 billion ($63.1 billion) in revenue in all of 2022. The figure is down 20 percent from 2021, when $79 billion in sales was credited to the books. Net sales came in at $8 billion, down from $19 billion in 2021 — a decline of no less than 60 percent.
Quarterly figures
In addition to its annual figures, Intel disclosed the numbers for its fourth and final quarter of 2022. Revenue came in at $14.04 billion, down 32 percent from the same quarter in 2021.
This makes the quarter the fourth consecutive quarter in which the chip giant’s revenue declined. Moreover, Intel posted a loss of $664 million, in stark contrast to the $4.62 billion profit recorded in the last quarter of 2021.
All segments
Intel struggles with all segments. The Client Computing Group, which produces processors for the PC market, saw revenue decline 36 percent in 2022.
The Data Center and AI segment, responsible for server processors, flash memory and FGPUs, posted sales of $4.3 billion in 2022, down 33 percent from 2021. The Network and Edge recorded sales of $2.06 billion, down 1 percent from 2021.
CEO Pat Gelsinger said that Intel suffered greatly from deteriorating economic conditions. He emphasized that the chip giant is focused on streamlining its business and realizing its roadmap.
Expectations
Intel expects a revenue decline in the first quarter of this year. The tech giant forecasted quarterly sales of between $10.5 billion and $11.5 billion. Intel did not disclose a yearly forecast due to economic uncertainty.
Tip: Intel launches Sapphire Rapids, Ponte Vecchio and Sapphire Rapids HBM
6 hours ago
