Intel Shares Fall as Company Reports Loss in Foundry Business

Intel shares fell more than 4% in extended trading on Tuesday after the company revealed long-awaited financials for its semiconductor manufacturing business, commonly called the foundry business, in a SEC filing. Intel said its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion. That's a wider loss than the $5.2 billion Intel reported in its foundry business in 2022 on $25.7 billion in sales.

This is the first time that Intel has disclosed revenue totals for its foundry business alone. Historically, Intel has both designed its own chips as well as done its own manufacturing, and reported final chip sales to investors. Other American semiconductor companies such as Nvidia and AMD design their chips but send them off to Asian foundries — often Taiwan's TSMC — for manufacturin

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel shares fall after company reveals $7 billion operating loss in foundry businessIntel said that its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion.
Source: CNBC - 🏆 12. / 72 Read more »

Trump Media shares fall sharply after company reports net loss of $58 million in 2023Trump Media, whose majority shareholder is former President Donald Trump, 'expects to incur operating losses for the foreseeable future,' the filing says.
Source: CNBC - 🏆 12. / 72 Read more »

Truth Social parent company Trump Media & Technology Group to become publicly traded companyEXCLUSIVE: Shareholders voted Friday to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned.
Source: FoxBusiness - 🏆 458. / 53 Read more »