The last years have been challenging for Intel, as it has been for many technology companies. Intel is trying to recover after the second quarter, where it announced a net loss of 454 million dollars, which was quite difficult for itself. The technology giant shared its 2022 third quarter reports.
Intel seems to have weathered the rough patch
For the third quarter of 2022, Intel reported revenue of $15.3 billion, down $3.9 billion from the previous quarter. The company seems to be impersonating a profit-making company again after a tough second quarter. The company posted a net profit of $1 billion, albeit well below its historical norms.
In fact, the company still continues to make losses; When we look at Intel’s operating income, we see a loss of 175 million dollars. His company seems to have saved $ 1.2 billion in tax advantages in this quarter.
However, after the blow in Q2, Intel started to recover, albeit slowly. Although it is well below its data so far, the company’s gross profit margin has increased to 42.6 percent. Thus, the operating income of the company can remain in positive figures.
The item that generates the most revenue in Intel is the Customer Computing Group, as usual. The segment, which generated $8.1 billion in revenue, increased by 5 percent compared to the previous quarter. On the other hand, when we compare it with the same period of the previous year, we see a 17% loss.
| Intel third quarter 2022 report | |||
| Q3’2022 | Q2’2022 | Q3’2021 | |
| Income | $15.3 billion | $15.3 billion | $19.2 billion |
| Operating income | – $175 million | -$700 million | $5.2 billion |
| Net profit | $1.0 billion | -$454 million | $6.8 billion |
| gross margin | 42.6% | 36.5% | 56.0% |
| Customer Computing Group Revenue | $8.1 billion | +5% | – 17% |
| Data Center and AI Group Revenue | $4.2 billion | – 9% | – % 27 |
| Network and Edge Group Revenue | $2.3 billion | – | +14% |
| Accelerated Computing Systems and Graphics Group Revenue | $185 million | – % one | + 8% |
| mobileye | $450 million | – % 2 | + 38% |
| Intel Foundry Services Revenue | $171 million | + 40% | – % 2 |
Companies continue to have hard times with the economic crisis. Intel is one of the companies that have problems in this regard. So what do you think about the third quarter results of the big tech company? You can share your views with us in the comments section.
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