Intel's Q4 revenue at $14B, falls 32% YoY
Intel Corporation revealed on Thursday that its revenue in the fourth trimester of fiscal 2022 slid 32% year over year, to land at $14 billion. Loss per share in the reported period stood at $0.16 as opposed to earnings per share of $1.13 recorded in the same timeframe a year prior. Net loss came in at $0.7 billion, down from a net income of $4.6 billion, marked in the fourth quarter of 2021.
For the whole 2022, revenue amounted to $63.1 billion, declining 20% on an annual level. Meanwhile, both full-year 2022 net income and earnings per share slid 60% in comparison to the same period in 2021, totaling $8 billion and $1.94, respectively.
"In the fourth quarter, we took steps to right-size the organization and rationalize our investments," CFO David Zinsner shared. Intel expects revenue of between $10.5 billion and $11.5 billion in the first quarter of fiscal 2023. Company's shares tumbled 6.25% in after-hours trading following the report.