Financials – Jon Peddie Research

Intel ekes out a gain in revenue but increases loss

Lip-Bu Tan: Steps in the right direction.

The supercomputer AI company that also makes gaming GPUs.

Data center sales rose 54% YoY, and graphics/gaming was up 15.7%.

Sales up 9% y-y, profits up 881% y-y.

Seasonal weakness was to be expected, but the stock took a hit on weak guidance.

The quarter was more about business and infrastructure happenings than sales and profit.

Revenue rose 265% over the prior year to $22.3 billion, and that’s with the loss of sales to China.

The client business fared much better than the server business, which continues to languish.

Revenue rose a stunning 205% over the prior year to $18 billion, and the company is projecting higher for the next quarter.

Sales of $8.6 billion down 24% Y-Y, income down 48% Y-Y to $1.49 billion.

Q4 2023 expected to grow but not as much as analysts predicted.

Sales and income exceeded projections but given what they have on the market, sales should have been much higher.