Intel returns to profitability

Author: EIS Release Date: Aug 7, 2023

Intel’s Q2 revenue fell 15% to $12.9 billion from $15.3 billion a year ago, marking the sixth consecutive quarter of declining sales. Profit was $1.5 billion compared to a loss of $454 million in Q2 2022.

 

It expects revenue of $13.4 billion in Q3.

 

Intel CEO Pat Gelsinger (pictured) expects “persistent weakness” in all segments of the business throughout the year.

 

PC revenue fell 12% to $6.8 billion. 

 

 

 

 

Server chip sales fell 15% to $4 billion.

 

The Network and Edge division had a 38% decline in revenue to $1.4 billion.

 

Mobileye saw sales fall 1% y-o-y to $454 million.

 

Intel Foundry Services had revenue of  $232 million.