One of the world’s largest semiconductor manufacturers Intelshared its financial situation report for the first quarter of 2023. The company’s statements are not revealing at all. So much so that Intel’s revenues plummeted. At the same time the company reported record loss. Let’s take a closer look at Intel’s January-March financials.

In the past three months, Intel $11.7 billion Earned money. This figure was 36 percent lower than in the first quarter of 2022. As a result, profitability also decreased. However, instead of making a profit, the company $2.8 billion damaged. However, in the same quarter of last year, profits were $8.1 billion. The announced results show that Intel is in a huge crisis.

Intel revenues increased in one industry

Intel in the report information about business units also shared. According to this; The processor division was down 38 percent to $5.8 billion, the data center and artificial intelligence divisions were down 39 percent to $3.7 billion, and networking solutions were down 30 percent to $1.5 billion. The Mobileye company, founded by Intel, was the only category in which Intel increased its revenue. mobileincreased its revenue by 16 percent to $458 million.

While the numbers the semiconductor giant is sharing are depressing, executives face a major crisis. they don’t see it. David Zinsner, one of the senior managers, said they have been disciplined on expense management for some time and will continue to do so. Intel CEO Pat Gelsinger be carefull He said they will continue and focus on the IDM 2.0 strategy announced in 2021.