new York In the past quarter, Intel missed the sales expectations of the experts and sent its shares down after the hours. For the past third quarter, the US company announced sales of 18.1 billion dollars on Thursday after the stock market closed, an increase of five percent. However, analysts had expected refinitive data according to 18.24 billion.
For the current quarter, Intel expects sales of 18.3 billion dollars – a little more than analysts expected. Net income was $ 7 billion for the third quarter, up 54 percent from the same period last year. At the same time as the business figures, Intel announced that CFO George Davis will vacate his post in May. Intel shares initially lost four percent in after-hours trading.
The US chip company is one of the few suppliers in the world that not only develops semiconductors, but also produces them. In the future, Intel wants to get into contract manufacturing more and more, thus creating more competition for companies like Samsung Electronics or TSMC. However, Intel has to expand its capacities for this, which is why Germany is currently hoping to build a multi-billion dollar software factory. A decision is to be made this year.
More: Winner of the chip crisis: Samsung achieves new record sales.
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