Intel posted its biggest quarterly loss in its history

In the first quarter of 2023, Intel posted a net loss of $2.8 billion, or 66 cents per share. A year earlier, the manufacturer recorded a net profit of $8.1 billion, or $1.98 per share. This is reported by CNBC with reference to Intel information.

Excluding the impact of inventory restructuring, recent changes to employee stock options and other acquisition-related costs, Intel reported a loss of 4 cents per share for the first quarter. The giant’s revenue for the year decreased by almost 36% – from $18.4 billion to $11.7 billion.

Intel’s sales declined for the fifth quarter in a row, but it posted a loss for only the second quarter. At the same time, the size of the quarterly loss is the largest in its history.

According to Intel’s forecasts, in the II quarter of this year its losses will amount to 4 cents per share, and the revenue will potentially reach $12 billion.

We will remind that this January Intel officially introduced the processor Core i9-13900KS. The new flagship of the 13th generation Core desktop line initially received a frequency formula of 3.2/6.0 GHz for productive cores. The symbolism of this model lies precisely in the fact that it is the first x86 chip that accelerates to 6 GHz in normal mode without additional overclocking.