newsycanuse

Intel reports massive quarterly loss as PC demand continues to wane

Intel

TechSpot is about to celebrate its 25th anniversary. TechSpot means tech analysis and advice you can trust.

In brief: Intel finished 2022 on wobbly legs but is steadfast in its belief that greener pastures are looming. Intel reported revenue of $14.0 billion for the fourth quarter ending December 31, 2022, which is down 32 percent compared to the same period a year earlier. Gross margin slid to 39.2 percent from 53.6 percent a year earlier, and net income (loss) was $644 million. Earnings per share (loss) for the quarter checked in at $0.16.

Notably, Intel remained profitable for the full year with $63.1 billion in total revenue and net income of $8.01 billion. For comparison, Intel generated $79 billion in revenue and $19.9 billion in net income in 2021.

Intel boss Pat Gelsinger said despite the economic and market headwinds, they continued to make good progress on their strategic transformation in the fourth quarter which included advancing their product roadmap and improving operational structure and processes to further drive efficiencies.

In 2023, Gelsinger said, they will continue to work through short-term challenges. Intel CEO David Zinsner added that steps taken to right-size the organization and rationalize investments underpin cost-reduction targets of $3 billion in 2023 and puts them on the road to achieving $8 billion to $10 billion in savings by the end of 2025.

None of this is terribly surprising as Intel’s results reflect what has taken place across the wider PC market in recent months.

Market analyst IDC recently said shipments of traditional PCs were down 28.1 percent over the holidays compared to the same period in 2021. Shipments of hard drives were nearly split in half last year and even peripheral maker Logitech saw sales slide around 23 percent during the holiday quarter.

Related reading: The Rise, Fall and Renaissance of AMD

Strong competition from market rival AMD has not helped Intel’s efforts either, nor has Apple’s trek into in-house hardware. Apple started the transition to its own processor design in late 2020 and at this point, nearly every new Mac is offered with Apple silicon inside.

Share value in Intel is down more than seven percent as of this writing.

Read More
Jeanice Schewe

Latest

explored

Xbox Has ‘Explored’ Using Activision For Future Halo Games, Suggests Rumour

0
Halo Contractors Involved by Craig Reid Mon 17th Aug 2026 It's been a few weeks since Halo: Campaign Evolved launched to a generally positive, but somewhat mixed reception - mostly attributed to its troubled development and lack of multiplayer. Now, the rumour mill has spun up claims that Microsoft is exploring plans to outsource parts
About

What Bird Song Can Tell Us About the Nature of Dreams

0
Toy trumpets and cartoon lasers from old video games: This is the sound of zebra finch song. The birds weave a noisy rhythmic chatter of beeps and clicks and trills into complex melodies for courting lifelong mates and coordinating social time. Young birds learn tunes much like babies learn to talk—by mimicking adults and then
Change

How climate change created a new ‘Ice Silk Road’ in the Arctic

0
August 17, 2026 3 min read Add Us On Google Add SciAm China plans to send container ships along Russia’s northern coast, reviving environmental concerns about the fragile polar region By Tom Metcalfe edited by Claire Cameron A Chinese shipowner is set to begin the first weekly container service through the Arctic on an express
‘powerless’

USS Benfold was powerless for four days in South China Sea after engineering failure

0
A US Navy destroyer spent four days without power in the South China Sea after an engineering failure disrupted essential services aboard the vessel last month. The USS Benfold, an Arleigh Burke-class guided-missile destroyer, was conducting routine Indo-Pacific operations on July 24 when it suffered an “engineering casualty involving its generators,” US 7th Fleet spokesperson

Newsletter

Don't miss

explored

Xbox Has ‘Explored’ Using Activision For Future Halo Games, Suggests Rumour

0
Halo Contractors Involved by Craig Reid Mon 17th Aug 2026 It's been a few weeks since Halo: Campaign Evolved launched to a generally positive, but somewhat mixed reception - mostly attributed to its troubled development and lack of multiplayer. Now, the rumour mill has spun up claims that Microsoft is exploring plans to outsource parts
About

What Bird Song Can Tell Us About the Nature of Dreams

0
Toy trumpets and cartoon lasers from old video games: This is the sound of zebra finch song. The birds weave a noisy rhythmic chatter of beeps and clicks and trills into complex melodies for courting lifelong mates and coordinating social time. Young birds learn tunes much like babies learn to talk—by mimicking adults and then
Change

How climate change created a new ‘Ice Silk Road’ in the Arctic

0
August 17, 2026 3 min read Add Us On Google Add SciAm China plans to send container ships along Russia’s northern coast, reviving environmental concerns about the fragile polar region By Tom Metcalfe edited by Claire Cameron A Chinese shipowner is set to begin the first weekly container service through the Arctic on an express
‘powerless’

USS Benfold was powerless for four days in South China Sea after engineering failure

0
A US Navy destroyer spent four days without power in the South China Sea after an engineering failure disrupted essential services aboard the vessel last month. The USS Benfold, an Arleigh Burke-class guided-missile destroyer, was conducting routine Indo-Pacific operations on July 24 when it suffered an “engineering casualty involving its generators,” US 7th Fleet spokesperson
faces

Paramount-Warner Bros deal faces ‘sufficient competition’, says CMA

0
Monday 17 August 2026 4:58 pm  |   Updated:  Monday 17 August 2026 5:07 pm The combined business is expected to become the UK’s largest tv distributor The Paramount-Warner Bros Discovery merger will face “sufficient competition” in the UK to prevent the combined Hollywood giant from gaining too much market power, the competition watchdog has said.
newsycanusehttps://newsycanuse.com

‘Eye of the storm’: Business owner’s fight to keep nail tech siblings in country

A Whangārei beauty salon owner says her business may face trouble if she cannot find a way to keep her siblings in the country. Anna Vu owns AV Beauty Spa, and has worked in the city for 12 years. She said she had always struggled to find suitably skilled nail technicians and beauty staff and
Read more

What small business owners say they’d do differently, in hindsight

Working 60+ hours a week makes owners twelve times more likely to say their business is hurting their personal life. Australian small business owners are working through illness, skipping holidays and struggling to step away from their businesses, according to new research from insurer BizCover. The survey of 1,500 BizCover small business customers found more
Read more

Bright young business brains bring ideas to life

Friday 17 July, 2026 Young Cumbrian entrepreneurs showed off their innovative business ideas, from AI virtual assistants to African food, at two celebration events this week. Fifteen young people from Furness and West Cumbria aged 14 to 25 were selected to take part in the Positive Enterprise programme back in January...
Read more