Intel reported first-quarter outcomes on Thursday that confirmed a staggering 133% annual discount in earnings per share. Income dropped almost 36% yr over yr to $11.7 billion.
For the second quarter, Intel expects to lose 4 cents per share on income of $12 billion. That forecast is shy of analyst expectations for earnings of 1 cent per share on $11.75 billion in gross sales, in keeping with Refinitiv.
Within the first quarter, Intel swung to a internet lack of $2.8 billion, or 66 cents per share, from a internet revenue of $8.1 billion, or $1.98 per share, final yr.
It’s the fifth consecutive quarter of falling gross sales for the semiconductor big and the second consecutive quarter of losses. It’s additionally Intel’s largest quarterly lack of all time, beating out the fourth quarter of 2017, when it misplaced $687 million.
Intel’s Shopper Computing group, which incorporates the chips that energy the vast majority of desktop and laptop computer Home windows PCs, reported $5.8 billion in income, down 38% on an annual foundation.
Intel’s server chip division, underneath its Information Heart and AI phase suffered a good worse decline, falling 39% to $3.7 billion.
MacDailyNews Take: Right here’s an thought for Intel. One thing at which they’d excel: Hotplates.
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