$ 6 billion … Intel’s profits in 3 months

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The profits of the American company, Intel, which specializes in the manufacture of chips, personal computers and electronics, fell to $ 5.9 billion during the fourth quarter of 2020, compared to about $ 6.9 billion during the same period in 2019, a 15% decline.

While revenues fell to $ 20 billion during the fourth quarter of last year, compared to about $ 20.2 billion during the same period in 2019, a decrease of 1%

The declines came better than the expectations of the company “Refentiv”, which expected to achieve revenues of $ 17.49 billion, driven by an increase in personal computer sales by 33% during the last quarter of the year, according to the company.

The shares of the company, listed on the NASDAQ technology index on the Wall Street Stock Exchange, rose by 6.46% at the end of trading today, after announcing its results.

Sales of the “Intel” PC Group, which recorded $ 40.1 billion in sales by the end of 2020, increased, according to Forbes.

Sales of “Mobily”, an Intel company working on self-driving car technology, increased to $ 333 million during the fourth quarter of 2020, an increase of 39% compared to the same period in 2019, and on an annual basis, that is, at the end of the year. 2020, it achieved $ 967 million, an increase of 10%.

Expectations

The company expected to achieve revenues during the first quarter of this year by about $ 18.6 billion, and the earnings per share for the first quarter was of $ 1.03, according to the results of its business.

The company’s chief executive, Dan Loeb, said the most prominent challenge the company faced was its delay in producing Asian chip foundries that enjoy making the most advanced processors, adding that the leadership transition is not the only challenge facing the company.

The activist hedge fund Third Point urged Intel in December to make several changes to the company, including considering whether to outsource the production of chips or divest parts of the business, such as acquisitions.







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