For the first quarter of 2023, Intel received a net loss of $ 2.8 billion
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The American manufacturer Intel published a report on financial results for the first quarter of 2023. The net loss was the largest in the history of the company and amounted to $2.8 billion.
The company ended the first quarter of 2022 with a profit of $8.1 billion. Revenue during this period decreased by 36% to $11.7 billion. Despite this, the company paid dividends of $1.5 billion.
The client segment brought in $5.8 billion in profit in the first quarter of 2023 instead of $9.3 billion a year ago. The Data Center and AI division also brought in half as much profit – $3.7 billion instead of $6.1 billion a year ago. In the first quarter of 2022, the division’s profit was $1.4 billion, while in the same period in 2023 it incurs a loss of more than $500 million.
Server product revenue fell 30% to $3.7 billion. The remaining divisions also generated 24% to 38% less profit than a year ago.
Such financial results of Intel are explained by the active growth of AMD, the main competitor. AMD offers more affordable and technologically advanced solutions in the server and consumer processor segment.
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