Intel released its latest financial report this morning and, contrary to what Wall Street analysts expected, reported a relative improvement. Intel also made an exciting forecast for the final months of 2023, saying that the state of the PC processor market is improving.
According to Financial TimesIn the last quarter, Intel’s revenue dropped by eight percent compared to 2022. The blue team did not spend bright days in 2023 and its income has dropped significantly in every season.
Intel’s revenue of $14.2 billion in the third quarter of 2023 was about 9% higher than the second quarter of 2023. Wall Street analysts had expected the company to post $13.6 billion in revenue.
Intel now expects its revenue to reach $14.6 billion to $15.6 billion in the final quarter of 2023; Analysts forecast revenue of $14.36 billion. In response to the release of the new financial report and optimistic forecast, the company’s stock value grew by seven percent.
Intel’s chief financial officer said in today’s conference that all of the company’s businesses performed better than expected, and in the meantime, the consumer products business performed better than others.
AMD’s CPU business has seen significant sales in recent quarters to reduce Intel’s market share, especially in the data center space. One of the factors that led to the decline of Intel’s market share is keeping this company from competing in the field of advanced chip-making technologies. Intel says it will take back its place from TSMC by 2025.
According to the chief financial officer of Intel, the increase in competition in the data center market has created many challenges for this company; Still, the new generation of data center processors, Emerald Rapids and Sierra Forest, will arrive next year: “These are products that we think are very competitively positioned.”
Intel says its ultra-advanced 18A lithography, due in 2025, already has three customers and will likely find a fourth before the end of this year. The names of these companies have not been mentioned yet.
Intel’s net profit in the third quarter of 2023 fell by 71% and reached $310 million. The decline in Intel’s profit is attributed to the decrease in annual revenue and the allocation of large budgets to upgrade the product line.
In the third quarter of 2023, Intel unveiled and released the 14th generation desktop processors (Raptor lake refresh series). The 14th generation CPU price has not changed compared to the 13th generation Intel CPU price.