[The Exiled]

Intel reports a broad miss on its Q4 2022 earnings along with horrendous guidance for Q1 2023

Intel’s Q4 and full year 2022 earnings are out and it’s not looking great: a $0.7 billion loss and revenue down 32 percent, though its GPU business seems to have bottomed out. Intel warned things would be bad, and it’s forecasting 40 percent less revenue next quarter (YoY) too. Intel is facing a steep drop in consumer PC sales, as shoppers choose to hold on to the laptops and desktops they purchased at the peak of the pandemic. Intel's Client Computing Group was hammered in the quarter, with revenue declining 36% year-over-year from $10.3 billion to $6.6 billion. Intel's Datacenter and AI business also took a beating, with revenue declining 33% year-over-year from $6.4 billion to $4.3 billion.