PC Slump Continues As Intel Posts $4.16 Billion Loss
Intel has posted its largest-ever quarterly decline, with revenue falling by 36 per cent.
The PC giant posted revenue of A$17.64 billion for the first quarter, with sales falling to levels not since seen 2010.
The company posted a A$4.16 billion loss for the quarter, its second loss in a row. This also dwarves its previous largest loss of A$1.04 billion in the December 2017 quarter.
Intel’s PC-chip division reported a 38 per cent fall in revenue to A$8.74 billion. Shipments of PCs fell 29 per cent year-over-year for the quarter, continuing a post-pandemic slump.
The company’s data-centre division reported sales of $5.58 billion in the first quarter, down 39 per cent year-on-year.
Chief Financial Officer David Zinsner said the market was on course to return to normal by the end of the calendar year.
“We saw in the quarter an improving situation in the PC market,” CEO Pat Gelsinger said.
However said this, Intel said it would likely post another loss in the current quarter.