Embattled Intel says earnings 'exceeded expectations'

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The firm remains a leading chip company but has lagged behind rivals in the mobile device segment. FMTNews Intel

SAN FRANCISCO: Intel said Thursday that earnings topped prior expectations, as the computer chip giant faces pressure to come up with bold ways to fend off fierce competition and an activist shareholder.

Intel said that its board approved an increased cash dividend of US$1.39 per share in what may have been a move to placate investor Dan Loeb of Third Point, who has called on Intel to bolster its weakening position in the chip market. “I am confident that the majority of our 2023 products will be manufactured internally,” Gelsinger said.

Loeb’s criticism of Intel wasn’t new, and Intel has enlisted outside foundries selectively in the past, according to analyst Patrick Moorhead of Moor Insights and Strategy.National asset

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines