Published , by TJ Denzer
Published , by TJ Denzer
As we continue through another round of quarterly fiscal endings and earnings results, Intel is the next one up with its Q4 2022 results. One of the largest players in the chip game, Intel came up surprisingly short on capping off its fiscal year. The company reported its earnings results and missed expectations on both earnings-per-share (EPS) and revenue estimations.
Intel put out its Q4 2022 earnings results on its investor relations website on January 26, 2023. According to Intel’s reporting, the company landed at $14 billion USD on revenue. This was quite a bit shy of the $14.5 billion expected by Wall Street analysts. Likewise, on the EPS front, Intel put up a Non-GAAP EPS of $0.10 per share. This was shy of the $0.20 Wall Street expectation and $0.23 whisper number expectation. And so, Intel ended up missing on both of its major stats in Q4 2022.
This could come as a surprise considering Intel has continued to be one of the largest tech firms in the world, especially in terms of chip technology and fabrication. In fact, CEO Pat Gelsinger notably made the claim recently that he believes the chip and semiconductor industries are on track to overtake oil and gas as the dominant geopolitical commodity in the next five years. Unfortunately, even if that were the case, Intel doesn’t seem to feel good about the start of its fiscal 2023. The company’s guidance for Q1 2023 forecasted loss and slashed revenue expectations.
Intel has made moves to expand its chip fabrication business with the help of US government funding, so there’s a chance the company could turn it around in the next few years as well. As we continue to report on Intel and other tech companies releasing earnings results, keep it locked here at Shacknews.