Intel's revenue increased in the final quarter of last year

Intel, one of the world's largest microchip manufacturers, saw its revenue increase by 10 percent in the last quarter of last year, exceeding expectations. Intel announced its balance sheet for the fourth quarter of last year. Accordingly, the chip company's revenue increased by 10 percent in the last quarter of 2023 compared to the same period of the previous year, reaching $15.4 billion. Intel had generated $14 billion in revenue in the fourth quarter of the previous year. The company's revenue, which exceeded market expectations, was expected to be $15.15 billion in this period. The company's revenue as a whole in 2023 decreased by 14 percent, from $63.1 billion to $54.2 billion. Intel's net profit in the last quarter of last year was recorded as $2.7 billion. Intel had reported a net loss of $700 million in the same quarter of the previous year. Intel, which announced a loss per share of 16 cents in the fourth quarter of the previous year, earned 63 cents per share in the same period in 2023. The company's total net profit last year was calculated as $1.7 billion. The balance sheet, which also includes an outlook for this year, stated that the company's revenue is expected to be between $12.2 and $13.2 billion in the first quarter of 2024 and that it will lose 25 cents per share. Intel CEO Pat Gelsinger, whose views were included in the statement, stated that they achieved strong fourth-quarter results, exceeding their expectations for the fourth consecutive quarter, and that their revenues were above target. Noting that Intel completed one year of progress in its transformation in the last quarter of last year, Gelsinger emphasized that they continuously accelerated application and innovation during this period, which provided strong customer momentum for the company's products. Gelsinger stated that they will continue to focus on achieving process and product leadership in 2024 and achieving their mission of bringing artificial intelligence everywhere while creating long-term value for stakeholders.