Intel reports record loss, but sees PC market on the upswing soon

Intel has to fight on, but according to its own statements, it is positive about the future. First of all, however, a drop in sales of 36 percent compared to the same quarter of the previous year had to be reported. However, the stock market reacted positively due to the positive prospects.

Like Intel last night according to, it posted revenue of just $11.7 billion in the first quarter of 2023, down 36 percent from the first three months of last year. The reason for this is, of course, the sharp drop in demand in the PC market as a result of the Russian war of aggression against Ukraine and the generally poor economic conditions.

Intel loses nearly $3 billion in three months

At the same time, Intel boss Pat Gelsinger had to report the highest quarterly loss in the company’s history. In just three months, the company lost a whopping $2.8 billion. Among other things, it hit the client computing division of the US chip giant, whose sales recorded a minus of 38 percent.

Intel has been making losses for half a year after struggling with declining sales for more than a year. The company is currently also in a costly conversion process, through which one wants to become a contract manufacturer for other chip suppliers from being a pure supplier of in-house PC and server processors. Intel’s margins are also shrinking, with the company predicting a further decline in the current second quarter of 2023 as well. The same applies to the income in the current quarter, which should also decrease according to Intel’s forecasts. One of the reasons for this is that demand is expected to remain at a low level.

CEO Gelsinger only sees potential for a positive development in the second half of the year. Then one expects an increasing demand on the CPU market and at the same time falling costs through the introduction of new products, it is said. This prediction caused a surprisingly positive mood towards Intel on the stock exchange, so that the company’s share price was able to increase slightly.

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Processor, cpu, intel, chip, soc, overclocking, intel logo