Intel has disclosed a significant operating loss of $7 billion for its foundry business in 2023, a substantial increase from the $5.2 billion loss reported in 2022. The company's foundry revenue also saw a decline, dropping to $18.9 billion in 2023 from $27.5 billion the previous year, and its Data Center and AI revenue decreased to $12.64 billion from $16.86 billion Y/Y. This financial downturn comes amidst Intel's ambitious expansion plans, which aim to compete with leading chip manufacturers like TSMC and Samsung. Despite the current financial challenges, Intel outlines a new financial reporting structure designed to enhance cost discipline and drive margin expansion for 2024 and beyond. The company also anticipates that the operating losses for its foundry business will peak in 2024, with profitability still a few years away. Intel's stock has reacted negatively to these announcements, with a more than 3% drop in after-hours trading and a 2% decrease AH. The 'Intel Products' segment reported an $11.3B op. profit last year.
$INTC reported a 2023 operating loss of $7 billion for its foundry business. Many other chip companies have been saying costs are too high, according to @jimcramer, so why hasn't Intel? https://t.co/Q0k5iuqXjn
$INTC | Intel Stock Dives As Chipmaker Changes Reporting Structure: Takeaways From 6 Analysts Intel pushes consolidated long-term targets by four years to 2030, one analyst says. The new reporting structure and targets being pushed out do not affect the drivers for the company,… https://t.co/0IqvFPXEQC
"2024 is the trough for foundry operating losses. We've committed to being the number 2 foundry by the end of the decade." Intel CEO Pat Gelsinger. https://t.co/1auNdTAyyu
This $INTC Foundry slide from yesterday is informative for many reasons. 1/ Honest about the past- @Intel rarely (historically) will show a "-" even when the entire world knows. I take this as a positive cultural shift. 2/ Aspirational about the future- Intel is in it to win it.… https://t.co/Gv6bA5VJ48 https://t.co/sTYXv7Djcr
Intel $INTC foundries won't be profitable until 2030, losing $7bn in 2023 https://t.co/uV4CEcv5l8
Intel Foundry Business Still Bleeding with $7B Operating Loss https://t.co/OouM372nBQ
Intel’s steep foundry losses aren’t a surprise. Why its stock is still sliding. https://t.co/qAy4tTARgj
Intel Stock Drops as Foundry Flounders @davidmoadel https://t.co/t8SoNRxTvG $INTC
TSMC $TSM is preparing for an AI-fueled headcount expansion – the foundry has approximately 77,000 employees globally, and is looking to increase this to 100,000 over the next few years as it expands in the US and Japan. $NVDA $AMD $AVGO $QCOM
Intel slides as foundry business loss spotlights wide gap with rival TSMC https://t.co/5RMgCEsGre https://t.co/G9OAqfUOov
Intel has shared details of its financial results from the past few years, which shows a significant decline for its foundry business. https://t.co/csUb8PJLK9
⚠️ INTEL SLIDES AS FOUNDRY BUSINESS LOSS SPOTLIGHTS WIDE GAP WITH RIVAL TSMC Full Story → https://t.co/mFd7p3K0US Intel shares fell 5% before the bell on Wednesday, as ballooning losses at its contract chip-making business signaled the company could take years to catch up… https://t.co/Qub3rHPQs6
$INTC (-4.8% pre) Intel discloses $7 billion operating loss for chip-making unit - Reuters https://t.co/lqkNRX6cfr
Intel foundry unit loses $7 billion in 2023, company outsources 30% of its production to TSMC, others https://t.co/5y4Cr7fLrK https://t.co/MNUzgyJ1gn
"Intel discloses $7 billion operating loss for chip-making unit" https://t.co/BFE9z13Yet
Nothing to see here: Intel said its manufacturing unit had incurred $7bn operating losses for 2023 versus operating losses of $5.2bn the year before. They also reported $18.9bn revenue for 2023, down 31% yoy.
Intel’s foundry business faces mounting operating losses https://t.co/csUb8PJLK9
Intel's foundry business bled $7B in 2023 with more to come https://t.co/FoKT021rbN
Intel said it faces deepening losses worth $7 billion in 2023 at its foundry business https://t.co/MpAT94dgHc https://t.co/uNuygVeShs
Intel disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to TSMC https://t.co/rg7f248hyI https://t.co/JsAd2eC1oi
Intel discloses $7 billion operating loss for chip-making unit #Intel https://t.co/PfVvT9ENfY
Intel discloses $7 billion operating loss for chip-making unit $INTC https://t.co/JWkq6HRX2h
Intel Discloses $7 Billion Operating Loss For Chip-Making Unit https://t.co/QbXv3TlsVh
Intel’s stock falls after it reveals its nascent foundry business lost $7B in fiscal 2023 https://t.co/mciKANtraT
Intel’s chipmaking business lost a boatload of billions last year https://t.co/WDzqLvpyiV
Intel said its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion. Read more here: https://t.co/OGb8zfotaH https://t.co/tmQNgINRST
Intel disclosed its $7 billion operating loss for its chip manufacturing business, Foundry Services that aims to compete with TSMC and Samsung. https://t.co/i6q54dW4IV
$INTC | Intel Stock Is Sliding After The Bell: What's Going On? Intel announces a new financial reporting structure designed to drive increased cost discipline and higher returns. Intel says foundry operating losses are expected to peak in 2024. https://t.co/AsXoBSwR8v
Intel $INTC said today its foundry business recorded an operating loss of $7 Billion in 2023 on sales of $18.9B In 2022 Intel reported a loss of $5.2B on $25.7B in sales - CNBC Intel is down more than 3% in after hours on this news https://t.co/T5J8xECvDa
Intel shares fall after company reveals $7 billion operating loss in foundry business https://t.co/117O4yDTMM
Intel Sees Foundry Profitability Still a Few Years Away https://t.co/zvsQ7sJz0y
Intel $INTC down after unveiling long-term financial targets for foundry unit https://t.co/LJrfo3DzmP https://t.co/WDRq00mmo6
Intel foundry losses expected to peak this year after hitting $7 billion in 2023 https://t.co/t6fTBABFGs
Intel Foundry reports 2023 revenue down 31% YoY to $18.9B, operating loss of $7B, up from $5.2B in 2022, and expects 2024 to be the peak of its losses (@ianmking / Bloomberg) https://t.co/AFv7IuCBtp 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/jUErsFz1Z8
Intel's new segment reporting is a no-surprise to me. Product group has competitive margins given competitive foundry. $INTC making gigantic foundry investments pre-revenue that make that biz, short term, negative CM. If this is a surprise, you may not be paying attention. https://t.co/UUP6Ipz311
The TLDR on @Intel's segmentation webinar Intel Products -> reports more like a fabless semiconductor company. Intel Foundry -> reports like a foundry (will be at a loss for next few years) Market -> Gains transparency and understands better the current and future Intel… https://t.co/bFpyDhnj9d
Intel discloses $7 billion operating loss for chip-making unit https://t.co/4Qap8LYRq4 https://t.co/ktGwbmvQfG
Intel said that revenue from its factories is declining and losses are widening, showing the challenges of an expensive expansion plan. https://t.co/Xn3vhVASAT
Intel's Foundry Segment reported an operating loss of $7M in FY 23: $INTC https://t.co/tqMh7okoUX https://t.co/IEiVzGkejX
Intel outlines a new financial reporting structure that includes its Foundry segment. Also provides recast operating segment financial results for 2023, 2022, and 2021. $INTC: -3.1% AH https://t.co/nso46J5GAm
$INTC is down 2% AH after sharing financials for the last 3 years based on its new reporting structure. The "Intel Products" segment (mostly CPUs) had an $11.3B op. profit last year, while the "Intel Foundry" segment (manufacturing) had a $7B op. loss. https://t.co/ZkuEaL6Gia
$INTC | Intel Outlines Financial Framework For Foundry Business, Sets Path To Margin Expansion https://t.co/42UXt4WIns
$INTC | Intel Outlines New Financial Reporting Structure That Is Aligned With Previously Announced Foundry Operating Model For 2024 And Beyond
*INTEL: 2023 FOUNDRY REV $18.9B VS $27.5B Y/Y 2023 DATA CENTER AND AI REV. $12.64B VS $16.86B Y/Y OUTLINES FINANCIAL FRAMEWORK FOR FOUNDRY BUSINESS NEW STRUCTURE IS DESIGNED TO DRIVE UP COST DISCIPLINE $INTC