Intel Q3 revenue down 20% to $15.3 billion
Intel Corporation announced on Thursday that its revenue for the third quarter of fiscal 2022 saw an annual decline of 20% to land at $15.3 billion. Furthermore, the company reported that its earnings per share in the same period nosedived 85% year over year, coming in at $0.25. Net income for the third trimester also plunged 85% on a yearly level, to stand at $1 billion.
"Despite the worsening economic conditions, we delivered solid results and made significant progress with our product and process execution during the quarter," CEO Pat Gelsinger commented. The company's full-year guidance was revised down, with the revenue expected between approximately $63 billion and $64 billion from the previous $65 billion and $68 billion, while earnings per share should be at around $2.
Intel shares grew 2.82% in after-hours trading after the release of the report.