Tuesday, March 21, 2023

Intel shares drop on weak quarterly results and expectations for another quarter of losses

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  • Intel failed to meet estimates for the fourth quarter because of a steeper-than-expected falloff in PC chip sales.
  • Guidance was soft as well.
  • The company’s revenue declined for a fourth period in a row as the PC market recedes after expanding in the Covid pandemic.

Intel’s Network and Edge segment, containing networking products, posted $2.06 billion in revenue. That’s 1% less than in the year-ago quarter, and lower than the $2.26 billion StreetAccount consensus.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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