back to article Intel experiences another kind of meltdown

Intel stock fell by as much as 11 percent in extended trading today after the chip maker reported disappointing second-quarter 2022 financial results. The Xeon processor giant disclosed revenue of $15.3 billion, down 22 percent on this time last year, for the three months to July 2. Analysts had expected something more along …

  1. FILE_ID.DIZ
    Thumb Up

    Get back to processors...

    ...and out of all these distractions, so good on Intel.

    Also helps that the new(ish) CEO of Intel is a CPU guy - he was the lead architect on the Intel 486 CPU for example.

  2. NeilPost Silver badge

    Costs?

    So if you factor in the $1.5bn dividend, and the $559 write down, they actually made $1.5bn profit.

    Not so poor Intel then. Though they should be doing a lot better in a chips crisis where margins are thick and foundry services are at a premium.

    1. Anonymous Coward
      Anonymous Coward

      Re: Costs?

      No, no, no, poor Intel, they need people to feel sorry for them to ensure they get a big cut of that $52b subsidy.

  3. EricB123 Bronze badge

    What a Load of Horseshit

    Worry not. Mr. Pat Gelsinger prioritized 1.5 billion in dividends to shareholders over less important things like product improvement so his heart is in the right place.

  4. Lordrobot

    Many aboard the Titanic were quite hopeful

    They couldn't do math either. Intel is no longer a chip company; it's a Carney freak show. The CEO is a Carnival Barker pandering to the right-wing anti-China, Big Brother audience clamouring for the crop reports and of course government subsidies. The only thing missing to make Intel a success is Government subsidies and a good dose of Religion.

    80 Billion in stock buybacks. A big fat quarterly loss. Stock down 11%. And the Barker is on to FAB plants... in Ohio and Arizona, the born again enclaves. Does this guy have any idea how INTEL employees feel about the potential transfer to OHIO for Fab? HOW about political Arizona?

    Gelsinger's claim to fame was the 486 EDSEL. But now it is FAB and FONES, specifically android chips. FAB is the biggest bottomless pit. Ohio Fab. Intel is leading the way in the remake of the rust belt, a Union-infested anti-right-to-work series of states. You could not find worse labour if you tried. And of course, Intel already failed at 10nm fab. So why bother?

    So who is intel going to sell their fabulous fab? Well, that's very simple. Fabless designers will send all their designs to INTEL a competitor and INTEL will make the chips in Ohio. I see. It reminds me a bit of the Born Again CEO of Union Carbide that thought they would enter the Diaper Market with something called "Drydees" or something like that... And the board of this giant Chemical company went along with this lunacy.

    Intel is scattered in every direction and exceeding in nothing. FAB is so labour intensive, it has never succeeded in the USA. Even Intel made its CPUs in Maylasia. But when you are an Evangelical Trumper type, that only makes you more paranoid... And to be in bed with Government, the creators of Amtrak, that still think AMTRAK is a great idea...

    Maybe Intel should take a crack at manufacturing diapers too.... at the FAB plant in Ohio.

    BTW does anyone know where this GREAT GOV TECH and MANUFACTURING CENTERS WILL BE LOCATED? Chuck Schumer has his in UPSTATE NY.... I bet there is one in KENTUCKY and of course TEXAS home of the SuperCollider. Might want to look at the US Trillion dollar Gov lab system... They have never cured a single disease nor discovered a single drug... But they keep getting funded. Once in place the bottomless pit forms.

    Oh, how rude of me... Intel and Pat, great quarter...

  5. Anonymous Coward
    Anonymous Coward

    With the CHIPS act getting ready to be passed, Intel can now use some of that money, and some creative accounting, to make everything look happy for their shareholders. Damn the 2nd quarter, didn't exist.

  6. binary
    Unhappy

    Intel experiences another kind of meltdown

    Once upon a time, "Intel Inside" meant something to people. Not anymore. My current Ryzen inside is by far better and faster than any current Intel CPU's. Times have changed, time for Intel to adapt...

  7. nautica Bronze badge
    Boffin

    "...Earlier this month, we reported that Intel plans to raise its chip prices..."

    Ever heard the one about the farmer who started mixing sawdust with the horse-feed, in ever larger amounts, to cut down on expenses?

    It worked, too, right up to the point when the horse died.

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