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2022 Q4 should be $Intel (INTC.US)$A dark time for earnings reports has arrived, but this is far from being the company's worst. 2023Q1 is expected to be Intel's lowest-revenue quarter since 2010.
The company's overall performance was “blind”, and all of the results turned “negative”:
Revenue fell nearly 30% year over year:2022 Q4 revenue was $14 billion, down 32% from the 2021/Q4 revenue of $20.5 billion, and down 28% year over year in non-GAAP terms.
The operating profit margin began to turn negative:The 2022 Q4 operating margin was -8.1%, while the 2021 Q4 operating margin was 24.3%, down 32.4 basis points year over year. On a non-GAAP basis, the operating margin was 4.3%, down 23.9 basis points from 28.2% in the 2021 quarter.
Net profit turned profit into loss:Net loss of US$700 million in Q4 of 2022 was US$4.7 billion, down 114% year on year from year to year. From profit to loss, net profit was US$400 million in non-GAAP terms, far lower than US$4.7 billion in the same period last year, down 28% year on year.
The core business is not only affected by the economic environment, but is also being robbed by competitors:
The PC-side computer business has been declining for four consecutive quarters, and there is still no inflection point.The company's computer business is the company's largest business, mainly affected by...