Intel Reports Largest Quarterly Loss In Company History
It’s the fifth consecutive quarter of falling sales for the semiconductor giant and the second consecutive quarter of losses. It’s also Intel’s largest quarterly loss of all time, beating out the fourth quarter of 2017, when it lost $687 million. Intel hopes that by 2026 that it can manufacture chips as advanced as those made by TSMC in Taiwan, and it can compete for custom work like Apple’s A-series chips in iPhones. Intel said on Thursday it was still on track to hit that goal.
Intel’s Client Computing group, which includes the chips that power the majority of desktop and laptop Windows PCs, reported $5.8 billion in revenue, down 38% on an annual basis. Intel’s server chip division, under its Data Center and AI segment suffered an even worse decline, falling 39% to $3.7 billion. Its smallest full line of business, Network and Edge, posted $1.5 billion in sales, down 30% from the same time last year. One bright spot was Mobileye, which went public last year but is still controlled by Intel. Mobileye makes systems and software for self-driving cars, and reported 16% sales growth to $458 million.
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