Intel 2022 full-year revenue of $63.1 billion, 7nm chips are in mass production
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Update time : 2023-01-31 10:26:11
On January 26, local time, Intel released its 2022 fourth quarter and full-year financial results, with fourth quarter revenue of $14 billion, down 32% compared to $20.5 billion in the same period last year; 2022 full-year revenue of $63.1 billion, down 20% compared to $79 billion in the previous year, and full-year net profit of $8 billion, down 60% compared to $19.9 billion in the previous year.
By business, Intel's customer computing group, which includes PC chips, reported revenue of $6.63 billion in the fourth quarter of 2022, down 36 percent and below analysts' general expectations of $7.68 billion. Intel said demand in the consumer and education markets fell sharply, and customers reduced their inventories. On the product side, the process, Intel 7nm process chips are now in high volume production to meet client and server demand. Intel's 4nm process chips are ready for launch with MeteorLake expected in the second half of 2023. Intel's 3nm process continues to make progress and is on track, where the company has also added a leading cloud, edge and data center solutions provider as a customer. Intel CEO Pat Kissinger (PatGelsinger) said, "Despite economic and market headwinds, we continued to make good progress on our strategic transformation in the fourth quarter, including advancing our product roadmap and improving our operational structure and processes to drive efficiencies while achieving the low end of our guidance range. Looking ahead to 2023, we will continue to address short-term challenges while working to deliver on our long-term commitments, including delivering leading products based on an open and secure platform, powered by mass production and supported by our outstanding team." In addition, looking ahead to the first quarter of 2023, Intel expects revenue of $10.5 billion to $11.5 billion for the first quarter of 2023, with analysts widely expecting revenue of $13.93 billion.
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