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Intel reported a drop in sales and a net loss in the fourth quarter while the American flea manufacturer tries a turnaround after a turmoil which led to the ouster of the director general Pat Gelsinger last year.
The Silicon Valley group said its revenues fell 7% over a year in the fourth quarter to $ 14.3 billion. He also displayed a net loss of around $ 126 million, against a profit of 2.7 billion dollars in the same period in the previous year. Analysts had planned a loss of $ 838 million in the fourth quarter on sales of $ 13.8 billion.
“The cost reduction plan that we announced last year to improve the company’s trajectory has an impact,” said David Zinsner, acting co-PDG and financial director. “We promote a culture of efficiency through the company while leading to higher yields on our invested capital and better profitability.”
Intel is always looking for a replacement CEO to try to rekindle his fortune. Gelsinger was forced to go out In December after four years as CEO in the middle of the growing pressure of investors who have lost confidence in his vision return The company by reinventing it as a customer -oriented flea manufacturing company. The company reported a loss of $ 16.6 billion in the third quarter of 2024, the greatest quarterly defeat in its history.
Intel forecasts on sales and profits in the first quarter of 2025 failed the projections of Wall Street. The group said the current quarter income will be between $ 11.7 billion and 12.7 billion dollars, the average estimates of missing analysts of $ 12.9 billion.
Intel shares have increased by around 2% of trade after opening hours in New York.
