Intel’s Annual Financial Report Confirms A Huge Drop in Profits!
Mike Sanders / 2 months ago
2022 was undoubtedly a bit of an odd year for the tech world. Well, more accurately, 2020-2021 were incredibly good years for the tech industry, but ultimately, and sooner or later, that bubble did eventually have to burst. And for those of you already thinking about it, no, I’m not just talking specifically in regard to cryptocurrency, but that undoubtedly didn’t help! – Any way you look at it though, general consumers like you and me are undoubtedly breathing a very heavy sigh of relief that things do, finally, seem to be getting back on track both in terms of stock and price situations.
Back on point though, with many companies now reporting their annual financial situation, it seems that 2022 was something of a year to forget for Intel as following a report via TechRadar they have confirmed a circa 20% loss on year-on-year revenue making it one of their worse years financially in recent memory!
Intel Reports One of its Worst Financial Years Ever!
As part of their annual fiscal report, Intel has confirmed that its total annual revenue for 2022 was $63.1 billion. Now, while this might certainly sound like a huge figure (and it is), and one that might have you thinking Intel chiefs were probably very happy with themselves, the bad news for them and their investors that is when compared to 2021, this is down by a whopping circa 20%! And worse, their comparative net profits are down by an even huger 60%!
Put simply, even despite the crypto-crash (which didn’t really affect processors all that much), 2022 was one of the worst years Intel has seen, financially speaking, for a really long time. Like… 20+ years!
Why has it been such a rough year for them though? Well, predominantly we suspect it’s down to three key factors. Firstly the obvious investment (and significant lack of return so far) from their Arc Alchemist graphics cards. Secondly, it’s hardly any secret that in terms of workstations, AMD has been gaining a lot of traction in recent years. Thirdly? Raptor Lake was great, but it didn’t exactly offer anything particularly new when compared to Alder Lake.
Overall, 2022 was a bit of a damp year for Intel. And by, just for those of you potentially frothing at the metaphorical mouth in the comment section, their typically high-standards. – Rest assured though, despite this relatively poor financial news, Intel still seems incredibly optimistic about the future. And particularly so since we have Raptor Lake refreshes, Meteor Lake, and even potentially newly improved Arc Alchemist graphics cards to look forward to later this year.
Put simply, things for Intel can only get better… Probably!
What do you think though? – Let us know in the comments!