(San Francisco) US semiconductor giant Intel disappointed investors Thursday by posting below-expected sales as the shortage of electronic components continues to plague the chipmaker.
Its title plunged more than 8% during electronic trading after the close of Wall Street.
In the third quarter, its net profit climbed 60% year-on-year, to $ 6.8 billion, and revenue rose 5% to $ 19.2 billion, according to a statement.
But its main activity, that of processors for computers, saw its revenues decline by 2% in one year, to 9.7 billion dollars.
The decline is due “to lower laptop volumes due to the industry-wide lack of components, and lower adjacent revenues, partially offset by higher selling prices and strong sales of the industry. next to desktops, ”the group explained.
The global shortage of microchips is holding back production in many industries, from electronics to automobiles.
Its consequences for Intel are being followed closely by analysts, especially since the Californian company unveiled in March a new strategy based both on the development of in-house manufacturing and the increased use of subcontractors.
This reorientation will require significant investments, and the company is counting on the support of the United States and Europe. According to its statement, Intel entered into a trade deal with the US government during the past quarter.
Pat Gelsinger, the boss, estimated in July that the supply problem could last until 2023.
In September, he announced that Intel could invest between 20 billion and 80 billion euros (29 to 115 billion Canadian dollars) in the manufacture of microchips in Europe over the next ten years.
The decline in sales of processors detonates on an otherwise positive picture.
Data-related products (memory chips, chips for data centers, for connected objects, etc.), which have become Intel’s priority, thus brought in US $ 6.5 billion, up 10%.
This sector is benefiting from the strong demand linked to the economic recovery at the end of the pandemic.
The group expects revenue of US $ 77.7 billion for the full year, and adjusted earnings per share of US $ 5.28.