14:35 - 28.04.2023

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April 28, Fineko/abc.az. American Intel Corp., one of the world's leading manufacturers of computer components, recorded a record net loss in the 1st quarter of 2023 amid declining demand for PCs.

ABC.AZ reports that for Intel, this is the second unprofitable quarter in a row, and the company does not expect a return to profit in the current quarter.

According to Intel's press release, its net loss was $2.76 bn, or $0.66 per share, compared with net income of $8.11 bn, or $1.98 per share, for the same period a year earlier.

Intel's net loss exceeded the previous record of $687 million recorded in the 4th quarter of 2017. However, it turned out to be less than the consensus forecast of analysts surveyed by FactSet, which envisaged a loss of $3 bn, or $0.76 per share.

Adjusted loss, excluding restructuring costs and other one-time factors, was $0.04 per share compared to profit of $0.87 per share a year earlier.

Intel's quarterly revenue fell 1.6-fold to $11.72 bn with an average market forecast of $11.03 bn.