Intel Sales Slide is pursuing a turnover strategy with the chip manufacturer
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Intel reported that due to turbulence, American chip manufacturers tried to dismiss the CEO Pat Gelsinger last year, so sales declined and net losses.
Silicon Valley Group said its revenue fell to $ 14.3 billion in the fourth quarter. Its net loss was about $ 126 million, while the $ 2.7 billion in profit in the same period last year. Analysts predict that the fourth quarter of sales of $ 13.8 billion will be US $ 838 million.
“The cost reduction plan we announced last year is impact,” said David Zinsner, a temporary co -chief executive and chief financial officer. “We are promoting the efficiency culture of the entire enterprise, while promoting our greater return of investment capital and improving profitability.”
Intel is still looking for a replacement CEO to try to restore his destiny. Under the pressure of more and more investors, Gelsinger was forced to stand out in December, and they lost confidence in their own vision because his vision reshaped it as a chip manufacturing industry for customers The business reverses the situation. The company reported that it lost $ 16.6 billion in the third quarter of 2024, the largest quarterly loss in its historical.
Intel’s predictions on sales and profits in the first quarter of 2025 have not yet reached Wall Street forecasts. The group stated that revenue in the current quarter will be between US $ 11.7 billion and $ 12.7 billion, and the average analyst is estimated to be US $ 12.9 billion.
Intel’s stock price increased by about 2 % in New York’s get off work.
