(San Francisco) Intel posted $18.4 billion in first-quarter revenue, down 7% year-on-year, but above expectations amid rising global prices.
Posted at 9:08 p.m.
The US semiconductor giant, however, disappointed with its forecast for the current quarter — $18 billion in revenue — lower than expected.
Its title lost nearly 4% during electronic trading after the closing of the New York Stock Exchange.
The company is being watched closely as demand for microchips has soared during the pandemic, and shortages continue, amplified by factory shutdowns in China for resurgences of COVID-19.
“We expect the difficulties in terms of production capacities and available tools to continue for our industry at least until 2024,” said Pat Gelsinger, the group’s boss, during the conference call with analysts.
Under his leadership, Intel invested heavily in production and research, both in the United States and in Europe.
For the time being, the company continues to suffer from Apple’s decision to design its own chips for its computers, in order to gradually do without those of Intel.
Its computer chips business posted revenue of $9.3 billion, down from $10.7 billion for the same period last year.
Its branch called “data center and artificial intelligence”, which notably includes chips for servers, brought in more than 6 billion dollars in total.
Intel posted more than $8 billion in net profit in the first quarter.
In March, the company unveiled an investment plan of up to 80 billion euros in the European Union over ten years to produce electronic chips, with the flagship project of setting up a gigantic factory in Germany.
In February, it bought for 5.4 billion dollars the Israeli foundry Tower Semiconductor, which specializes in analog semiconductors used in cars, medical devices and security cameras.