Intel forecasts loss after revenue slump

Intel reported on 26 January that fourth-quarter revenue fell 32% year-on-year to US$14 billion on a GAAP basis. Its GAAP diluted loss was US$0.16 per share, versus a non-GAAP profit of US$0.10.

Photo: JF10, “Intel HQ” (Santa Clara, 2008), CC BY 2.0. Resized and cropped.

The contraction reached both major computing businesses: Client Computing revenue fell 36%, while Data Center and AI declined 33%.

For the first quarter of 2023, Intel forecasts revenue of US$10.5–11.5 billion and losses per share of US$0.80 under GAAP and US$0.15 on its non-GAAP measure.

That outlook already includes an estimated US$0.07–0.10 per-share benefit from extending certain equipment’s useful lives from five to eight years. The accounting change reduces depreciation; the forecast remains uncertain.

Source: Intel.