Intel loses $16bn

Intel had $13.3 billion in Q3 revenue down 6% y-o-y at a margin of  15% compared with $14.2 billion at a margin of 42.5% in Q3 2023.

It made a loss on the quarter of $16.6 billion as it booked more than $18 billion in restructuring and impairment charges.

For Q4, it expects revenue of $13.3 billion to $14.3 billion at a margin of 36.5%.

For Q3:

Foundry sales fell 8% y-o-y to $4.4 billion;

PC  sales were  down 7% y-o-y at $7.3 billion;

Datacentre and AI chip revenues were up 9%  y-o-y at $3.3 billion;

Networking and Edge sales were up 4% y-o-y at $1.5 billion

Altera’s revenues were down 44% y-o-y at $412 million

Mobileye revenues were down 8% y-o-y at $48 million.

Despite rumours of splitting the company up, and talk of mergers and takeovers with Qualcomm, Apple and Samsung and reports of an approach by Arm to buy the product unit, CEO Pat Gelsinger (pictured)  is adamant that he is keeping the company together and said he has the support of the board to do so.