INTC Earnings: Intel Q4 adj. profit jumps on higher revenues; beats estimates

Intel Corporation (NASDAQ: INTC) Thursday reported a sharp increase in earnings for the fourth quarter of 2023 when the chipmaker’s revenues rose 10%.

Revenues moved up 10% year-over-year to $15.40 billion in the December quarter. Revenues of Client Computing, the company’s main operating segment, grew in double digits.

The tech firm reported earnings of $0.54 per share for the fourth quarter, on an adjusted basis, compared to $0.15 per share in the same period of 2022. On a reported basis, net income was $2.7 billion or $0.63 per share in Q4, compared to a loss of $664 million or $0.16 per share last year.

Prior Performance