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)