According to the head of the company, Pat Gelsinger, these are “solid results”.
According to the figures, they are the largest quarterly losses suffered by Intel in its entire history.
The manufacturer of microprocessors has informed the Securities and Exchange Commission of the United States (the SEC), that it has suffered red numbers of 2,768 million dollars (about 2,500 million euros at the current exchange rate) in the first quarter of the year .
The figure compares with 8,113 million dollars from the same period a year ago, only in that case of benefits, not losses.
The deterioration of Intel's income statement begins with the first line, in which revenues fell 36%, to 11,715 million dollars, the lowest sales figure since 2010. From there it descends through the entire cascade.
The gross margin drops from 50% to 34%, the operating margin changes sign and becomes negative, and the red color remains until the last line.
The sales of microprocessors skyrocketed with the pandemic due to the great boom in the sale of computers derived from confinement and teleworking.
Following those concentrated sales and a relative return to normalcy, consumers and businesses have invested less in PCs and needed fewer Intel microprocessors.
Sales of microprocessors for laptops have sunk, above all, by 43%, but also those of desktop computers, by more than 30%.
As if that were not enough, the demand for chips from data centers has also hit the company's revenues.
In addition, Intel has not been able to compete with Nvidia in high-powered microprocessors used in artificial intelligence, while losing market share in low-end ones to rivals like AMD.
The managers of the company have shown themselves to be specialists in putting a good face to bad times: "We have obtained solid results in the first quarter, which represents constant progress in our transformation", declared the CEO, Pat Gelsinger.
David Zinsner, Intel's CFO, added: “We have exceeded our expectations for the first quarter in both earnings and results, and we have remained disciplined in managing expenses as part of our commitment to drive efficiency and growth. cost savings".
The company, however, expects losses for the second quarter similar to those of the first, according to figures it has reported to the SEC.
The biggest quarterly losses so far at $687 million in the fourth quarter of 2007. According to the company's forecasts, sales will barely pick up this quarter and will be between $11.5 and $12.5 billion.
Intel has launched a transformation plan that includes the manufacturing of a greater volume of microprocessors and has embarked on multimillion-dollar industrial investments taking advantage of the incentives promoted by the Joe Biden government.
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