Silicon Valley chip maker Intel suffered a revenue loss in 2022 in its released financial results for the year ended, as the company reacts to economic uncertainty and a slump in PC sales.
Annual earnings fell more than 60% in 2022, and full-year revenue dove more than 20% to $63.1 billion, a slowdown that the legendary Silicon Valley chip maker has not seen since 2001, according to MarketWatch.
Shares also tumbled nearly 10% in after-hours trading. Revenue in the fourth quarter dove 32% YoY to $14 billion below analysts' estimate of $14.46 billion. Profit also fell more than 100% on an unadjusted basis.
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