Intel Q4 Earnings 2023: Chip-Maker Registers ‘USD 15.4 Billion’ in Revenue, Makes ‘USD 2.66 Billion’ Profit

New Delhi, January 26: Chip-maker Intel has registered $15.4 billion in revenue in its fourth quarter (Q4) of 2023, up 10 per cent year-over-year (YoY). The full-year revenue was $54.2 billion, down 14 per cent YoY from $63.1 billion a year ago. Intel’s consumer chips witnessed 33 per cent gains ($8.8 billion revenue) and the company saw “record performance notebook shipments in the quarter.”

The company made $2.66 billion in profit in Q4, up from $796 million loss in the same period last year. “We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. Epic Games on Apple: CEO Tim Sweeney Terms Apple’s New Changes to Its Apple Stores in European Union Ahead of the Digital Markets Act As ‘Hot Garbage’.

“In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders,” he added. According to David Zinsner, Intel CFO, the company continued to drive operational efficiencies in the fourth quarter, and comfortably achieved its commitment to deliver $3 billion in cost savings in 2023.

“We expect to unlock further efficiencies in 2024 and beyond as we implement our new internal foundry model, which is designed to drive greater transparency and accountability and higher returns on our owners’ capital,” Zinsner added. Paytm Republic Day Offer: Indian Fintech Company Asks Users To Make Payments Through App, Collect ‘Pioneer’ Themed Stamps and Win up to Rs 500 Cashback and iPhone 15.

For the full year, the company generated $11.5 billion in cash from operations and paid dividends of $3.1 billion. In client computing, Intel ushered in the age of the AI PC with Intel Core Ultra processors. Built on Intel 4, the Intel Core Ultra processor is Intel’s most AI-capable and power-efficient client processor with dedicated acceleration capabilities across the CPU, GPU and NPU.

(The above story first appeared on LatestLY on Jan 26, 2024 06:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

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