Intel Corporation has summed up its financial results for the second quarter. The processor giant’s revenue for April-June was $12.8 billion, which generally meets the company’s expectations and is about 1% less than the same period in 2023. However, if a year earlier Intel’s net profit was $1.5 billion, now it has ended the quarter with a loss of $1.6 billion. Against this background, the chipmaker’s management has already begun to cut costs and launched a program to reduce production costs.
As before, the lion’s share of Intel’s revenue comes from the Client Computing Group, which is responsible for products for personal computers. Last quarter, it brought the company $7.4 billion in revenue (+9% compared to Q2 2023). The Data Center and AI Group reported $3.0 billion (-3%) in revenue for April-June, and the Network and Edge Group reported $1.3 billion (-1%) in revenue.
Subsidiary Mobieye brought Intel $440 million (-3%), and Altera’s revenue was $361 million (-57%). As for contract semiconductor manufacturing, Intel Foundry’s revenue increased to $4.3 billion (+4%) last quarter. But operating losses also increased, from $1.9 billion to $2.8 billion.
Intel forecasts that it should end the current quarter with revenue in the region of $12.5-13.5 billion.
