Intel shares dropped 8% Wednesday after the company disclosed long-awaited financials in an SEC filing for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023.
It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business, which reported $11.3 billion in operating income in 2023.
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Intel Reports $7 Billion Operating Loss for Foundry Business in 2023Intel shares fell Wednesday after the company disclosed long-awaited financials in an SEC filing for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023. It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business. Intel said Tuesday that it expects its foundry losses to peak in 2024 and break even halfway between the current quarter and the end of 2030.
Source: nbcchicago - 🏆 545. / 51 Read more »
Intel Reports $7 Billion Operating Loss for its Foundry Business in 2023Intel shares fell Wednesday after the company disclosed long-awaited financials in an SEC filing for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023. It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business.
Source: CNBC - 🏆 12. / 72 Read more »