Silicon Valley group’s shares tick up even as its revenue outlook misses forecasts
Intel said its revenues fell 7 per cent year on year in the fourth quarter to $14.3 billion . Photograph: Anastasiia Sapon
It also posted a net loss of about $126 million, compared with a $2.7 billion profit in the same period the previous year. Analysts had forecast a fourth-quarter loss of $838mn on sales of $13.8 billion. “We are fostering a culture of efficiency across the business while driving towards greater returns on our invested capital and improved profitability.”Gelsinger was forced out in December after four years as chief amid mounting pressure from investors who lost faith in his vision for turning around the business by reinventing it as a client-facing chip manufacturing business.
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