intel, earnings

Intel Posts A Quarterly Loss For The First Time In Recent Memory

Quarter two of 2022 saw Intel’s earnings show a revenue of $15.3 billion, which sounds amazing until you realize it is down 22% from this time last year.  This was also somewhat off the expected amount of $17.92 billion, which had a rather nasty effect on their stock prices.   Believe it or not, Intel’s earnings of $15.3 billion actually resulted in a net loss of $454 million as the companies operating costs are every bit as enormous as their earnings.

To put this in context, you can look to Intel’s competitor, AMD.  We don’t have exact numbers yet, as their earnings call is not scheduled until Tuesday, August 2nd, 2022 but the expectation is somewhere around $6.5 billion.  That means that Intel’s downturn of $2.6 billion is a little under half of their competitors total expected revenue.  Any rumours of Intel’s impending demise are obviously greatly exaggerated and perhaps more than a bit amusing. 

The two areas with the most negative impact on Intel’s earnings were the Client Computing Group and the Datacenter and AI Group.  The former has certainly been hit by both supply chain issues and consumer’s lack of extra income to spend on upgrades.  The Datacenter certainly saw a bit of the same troubles, but there is also evidence that AMD and ARM are taking market share from Intel as more companies chose their hardware over Xeons.  We will see if that is true next week after AMD’s earnings call.  

The graphics division, aka the Accelerated Computing Systems and Graphics Group, actually saw a growth of 5%, so don’t count ARC out yet!

If you are wondering, NVIDIA’s Q2 2022 total earnings were $6.51 billion, however they posted that on August 18, 2021 because that’s just how NVIDIA rolls.  Q2 2023 earnings are expected to be somewhere around $8.10 billion.

Intel stock fell by as much as 11 percent in extended trading today after the chip maker reported disappointing second-quarter 2022 financial results.

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