Intel Expected to Post Wider Loss, Declining Sales
Intel is set to post its second-quarter results Thursday after the market closes. Here's what you need to know.
From the Equity Insider archive. This article dates from Jul 28, 2023 and is preserved as first published.
Intel is set to post its second-quarter results Thursday after the market closes. Here’s what you need to know.
REVENUE: The semiconductor giant is expected to report $12.13 billion in revenue, down from $15.32 billion in the year-ago period, according to FactSet.
ADJUSTED EARNINGS: The Santa Clara, Calif.-based company is expected to post an adjusted loss of 4 cents a share, compared with adjusted earnings of 29 cents a share a year earlier, according to FactSet.
-based company is expected to post an adjusted loss of 4 cents a share, compared with adjusted earnings of 29 cents a share a year earlier, according to FactSet.
NET INCOME: Intel is expected to widen its loss to $2.52 billion from $454 million in the prior-year period, according to FactSet.
WHAT TO WATCH
— RESULTS: Intel’s results will be closely examined after reporting a sharp decline in sales and its largest-ever quarterly loss in April. The company at the time said it would remain in the red while the market recovers from a steep fall in personal computer sales that hit its business.
— INVESTMENTS: While Intel’s challenges go beyond the current down cycle, it has issued a number of plans to support its turnaround efforts. Among those include plans to build a semiconductor assembly and test facility in Poland, and a deal with Germany to invest in two semiconductor facilities in the country.
