In the most recent quarter, consolidated sales fell a fifth year-on-year to $15.3 billion. As a result, profits fell 85 percent to even a billion dollars.
Over the next year, Intel now wants to cut costs by $3 billion and aims to save $8 to $10 billion annually by the end of 2025. In the last quarter, Intel has already allocated $664 million for the transformation. Intel shares temporarily gained more than 4 percent in after-hours trading.
For Intel, the business with chips for personal computers continues to play an important role – and the market has shrunk considerably recently. Revenue of Intel’s PC division fell 17 percent year on year to $8.1 billion. But data center-related business also fell by a strong 27 percent to $4.2 billion.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
