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Intel Earnings ‘A Crime Scene,’ ‘Astonishingly Bad,’ ‘Historic Collapse’

Financial analysts and market experts are in shock after Intel delivered its worst results in 20 years.

Kelly Teal

January 27, 2023

9 Slides

Financial analysts and other market experts were in shock on Friday after Intel reported earnings that were the worst in two decades, with little to no warning that results would be so dismal.

The chip maker released its fourth-quarter and full-year 2022 numbers late Thursday after Wall Street’s closing bell.

And the outcomes were not pretty — so much so that investor Wasteland Capital went so far as to say this on Twitter: “An unprecedented sh*t-storm of bad decisions & execution. Rev down … margins at new lows, miss on everything, and catastrophic guide. WTF? What did they do to this iconic American business? Who is in charge here? It’s not an earnings release. It’s a crime scene.”

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That reaction – and others – arose after Intel earnings for the fourth quarter showed a 32% year-over-year decline, down to $14 billion, and a net loss of $644 million. For the whole of 2022, Intel reported a 20% drop in revenue, falling to $63.1 billion.

And if you’re expecting things to get better for the January-March period, don’t hold your breath.

“[W]e’re expecting Q1 to be the most significant inventory decline at our customers that we’ve seen in recent history,” chief financial officer Dave Zinser told financial analysts on the fourth-quarter Intel earnings call on Thursday, according to a transcript from The Motley Fool.

See the slideshow above for all the numbers, analyst reactions and other observations on this latest round of Intel earnings.

Want to contact the author directly about this story? Have ideas for a follow-up article? Email Kelly Teal or connect with her on LinkedIn.

 

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About the Author(s)

Kelly Teal

Contributing Editor, Channel Futures

Kelly Teal has more than 20 years’ experience as a journalist, editor and analyst, with longtime expertise in the indirect channel. She worked on the Channel Partners magazine staff for 11 years. Kelly now is principal of Kreativ Energy LLC.

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