Stefan Mileschin

Financial results show woe, woe and thrice woe

Intel's PC business fell by 13 per cent something that the cocaine nose jobs of Wall Street considered a strong first quarter.

Overall, Intel reported a net income of $8.1 billion, which grew a whopping 141 percent on last year, which is not to be sneezed at. But overall revenue dipped by seven per cent to $18.4 billion and Chipzilla's Client Computing Group (CCG), revenue fell 13 percent to $9.3 billion. CCG is Intel’s largest business segment so this hurt.

Chipzilla's Intel’s Datacenter and AI Group, its second largest business group, saw revenue increase 22 percent to $6 billion. Intel’s Network and Edge Group (NEX) also recorded revenue growth of 23 percent to $2.2 billion, and its other groups all grew, too.

David Zinsner, the Intel chief financial officer who was appointed in January said Intel's PC business, continued to see strong commercial demand, offset by low-end and consumer and education softness and the impact of no longer shipping to customers in Russia and Belarus.

“Further, component supply constraints continue to be a challenge with the most recent COVID lockdowns in Shanghai further increasing supply-chain risks and contributing to inflationary pressures that are having a negative impact on PC TAM [Total Available Market] for the year. As a result, we’re seeing OEMs continue to lower inventory levels to better match demand and align with other system components. We expect elements of this inventory burn to continue in [the second quarter] subsiding in the second half of the year." Zinsner said.

https://fudzilla.com/news/pc-hardwar...0-intel-a-mess