Intel had Q3 revenues of of $14.2 billion, down 8% from $15.3 billion in Q3 2022 and its seventh consecutive quarter of revenue decline.

It expects Q4 revenue to resume growth to reach $14.6 billion to $15.6 billion.

“We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps, agreements with new foundry customers, and momentum as we bring AI everywhere,” said CEO Pat Gelsinger.

Profit was $297 million down from $1.02 billion in Q3 2022. Margin was 45.8%. 

Opex was down 15% y-o-y and Intel says it will cut costs by $3 billion this year. 

PC sales were down 3% to $7.9 billion.

Data Centre sales were down  10% to $3.8 billion.

Mobileye sales grew 18% to $530 million.

Intel foundry services had sales of $311 million – up up nearly 300% y-o-y.

Network and edge division sales fell 32% to $1.5 billion.