Intel, one of the leading companies in the processor industry, has set important targets for 2023. While the company was planning, it also announced the financial results of the last year. However, the picture is not very encouraging.
Intel fell 32 percent in the fourth quarter of 2022
Intel Corporation today announced financial results for the fourth quarter and 2022. The report reveals the current state of the company. The company has experienced a one-third decline in the last period. Intel suffered a net income loss of $700 million in the fourth quarter, according to 2022 reports.
However, Intel CEO Pat Gelsinger is hopeful about the company’s course despite 2022 reports. Gelsinger stated that they have started to implement the measures they have taken and that they are satisfied with the progress of the process. Here is the statement made by the CEO of the company;
To be frank, the financial situation is not what we expected, but we are satisfied with the implementation process we have carried out. Despite the economic and market headwinds, we are making progress on the strategies necessary to advance our product roadmap and increase efficiency.
Looking at the report, Intel seems to have experienced double-digit revenue declines in its two largest business units in the last quarter of 2022. The Client Computing Group (CCG) fell 36 percent to 6.6 billion, while the Data Center and Artificial Intelligence group (DCAI) dropped 33 percent.
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On the other hand, Intel has created its long-term plan to take its place in the industry where TSMC and Samsung share the top. The company has set itself an unbelievable goal. Intel announced at IEDM 2022 (International Electron Devices Meeting) that it will produce a trillion-transistor processor by 2030.
Intel aims to improve its performance this year. So much so that the company introduced the long-awaited 13th generation Intel Core processors at the CES 2023 event. Intel is looking to expand its Raptor Lake lineup to H, HX, P, and U series for mobile computers later this year.