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Intel Corporation (NASDAQ: INTC ) on Thursday reported a decline in adjusted earnings and profit for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023.
Fourth-quarter revenue fell 32% year over year to $14 billion. The top line was negatively impacted by continued declines in our core Client Computing segment.
Adjusted earnings fell to $0.10 per share in the last quarter from $1.15 per share in the fourth quarter of 2021. On a reported basis, the company had a net loss of $664 million or $0.16 per share, compared to a profit $4.62 billion or $1.13 per share last year.
Check out this space to read management/analyst commentary on Intel’s Q4 2022 results
“In 2023, we will continue to navigate short-term challenges while pursuing long-term commitments, including delivering leadership products embedded in an open and secure platform, supported by large-scale manufacturing and supercharged by an exceptional team,” he said. Intel CEO Pat Gelsinger.
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