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Intel’s profits plunge dramatically as the PC and server markets contract

End-of-year financials for Intel were released, showing that the company earned $63.1 billion in sales (down 20% from $79 billion in 2021) and had a net income and profits per share (down 60% from 2021).

Revenue for the corporation dropped by 32% in the fourth fiscal quarter of 2022, but the era was still one of exploration and experimentation.

The business’s 13th Generation Intel Core i9-13900K CPU has been overclocked to 9 GHz thanks to a collaboration with Asus, and the company has also released its line of 13th Generation Intel Core K Series processors for desktops.

Predictions for 2023 from Intel

Evidently, the corporation is still bullish despite officially reporting one of the worst-performing years in a long time. Intel’s newest Xeon Scalable CPUs, designed for high-performance computing and servers, were introduced in the first quarter of 2023.

Intel CEO Pat Gelsinger stated, “Despite the economic and market headwinds, we continued to make good progress on our strategic transformation in Q4,” which included advancing their product roadmap and improving their operational structure and processes to drive efficiencies while delivering at the low-end of their guided range.

Gelsinger’s subsequent explanation that the IT giant would continue to negotiate the short-term obstacles to accomplish its long-term objectives provided some cause for optimism.

Without a doubt, we still have a rough patch ahead of us, but if Intel is correct, we should witness a return to relative calm in the not-too-distant future.