by Intel (INTC) will report its fourth quarter 2022 earnings Thursday after the bell as the chip industry continues to struggle with declining consumer and business demand. Here’s what analysts expect from the company in the quarter, as compiled by Bloomberg, compared to how the company performed in the same quarter last year.
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Gain: $14.4 billion expected versus $19.5 billion in Q4 2021
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Custom WPA: $0.19 expected versus $1.09 in Q4 2021
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Client computers: $7.4 billion expected versus $10.1 billion in Q4 2021
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Data center and AI: $4 billion expected versus 7.3 billion in Q4 2021
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Mesh and Edge: $2.2 billion expected versus $1.1 billion in Q4 2021
Intel is facing a steep decline in consumer PC sales as customers choose to hold on to the laptops and desktops they purchased at the height of the pandemic. According to Gartner, worldwide PC shipments fell a stunning 28.5% in the fourth quarter, the biggest decline since the company began tracking shipments in the mid-1990s.
Microsoft (MSFT), which reported its fiscal Q2 earnings on Tuesday, offered a hint at the potential trouble in the PC market as sales of Windows OEM or Windows licenses sold to PC manufacturers fell 39% year over year.
Investors will also be keeping a close eye on Intel’s data center business. That branch is responsible for selling hardware products to companies and firms that build their own servers, and serves as Intel’s second largest business.
Intel should serve as something of a benchmark for the chip industry, as it is one of the first major semiconductor companies to announce its results. Rival AMD (AMD) will report its earnings on January 31, while Qualcomm (QCOM) will report its earnings on February 2. Graphics chip giant Nvidia (NVDA), meanwhile, will report its earnings on February 22.
Intel is in the midst of a rebuild of sorts as CEO Pat Gelsinger tries to bring the storied company back to the forefront among chip designers and manufacturers. To that end, he is building massive manufacturing facilities around the world, including a $20 billion factory in Ohio.
Still, Intel’s stock price has been hammered over the past year. Over the past 12 months, shares of the chipmaker are down 42%. That’s much worse than AMD, which is 32% lower, or Nvidia, which is 13% lower.
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