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Reporting a loss of half a billion dollars after decades of growth and profitability

       July 29, 2022
A few hours ago, Intel released its financial performance report for the second quarter of this year and it was found that the company experienced a sharp decline in revenue and sales during this period, to the point where it saw a loss for the first time in decades. we are that Read the full text of this news on the hardware city website. The spread of the Corona disease and the Covid-19 virus caused many companies to be encouraged to work remotely. This issue caused us to see a significant increase in the sale of hardware parts for two consecutive years. But now it seems that the great financial success that the companies active in this area achieved is fading away very soon. After we saw a significant decrease in the sales of smartphones and Chromebooks in the past days, today we see that the manufacturers of hardware parts have also faced a sharp decrease in sales. Intel, which currently has a large share of the world's processor market, recently held a press conference and published its latest financial report. This report, which introduces the financial performance of this company in the second quarter of 2022, shows that it has faced a significant decrease in revenues during this period, and now, after decades of excellent performance, we are witnessing losses from it. The company announced today that in the last quarter, it has seen a 25% decrease in sales of its consumer chips. Intel claims that the "severe decline in economic activity" due to inflation, political tensions, as well as the war between the US and Ukraine is the reason for this, and the company expects the value of the home systems market to decrease by 10% by the end of the year. In another part of this report, it is stated that Intel has been forced to buy a lot of necessary parts in order to produce its future products, and this issue has been one of the reasons for its loss. Intel announced today that its revenue for the second quarter of 2022 was about $15.3 billion. In other words, we see a 17% decrease in its income compared to the same period last year, as well as a 22% decrease in this amount compared to the previous quarter. This issue has caused the net profit ratio of this company to reach 36.5% in the last quarter, which shows a sharp decrease compared to the previous year and the value of 57.1%. In this way, the performance of this company in the last quarter has been associated with a loss of 500 million dollars. Intel CEO Mr. Pat Gelsinger announced in this press conference: "The performance of this quarter is lower than the existing standards that we have previously defined for the company and shareholders. We must definitely do better in the future. The sharp and sudden decrease in economic activities has caused this, but this decrease in income also shows our executive problems. Source

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