Intel reports a strong start to the year
The US chipmaker recorded first quarter revenues of USD 18.4 billion, down 7% from USD 19.7 billion. Net income however increase 141% from USD 3.4 billion to USD 8.1 billion for the first quarter 2022.
“Q1 was a strong start to the year, exceeding expectations on both the top- and bottom-line," says Pat Gelsinger, Intel CEO in the report. "With a USD 1 trillion market opportunity ahead of us, we remain laser focused on our IDM 2.0 strategy. We executed well against that strategy in Q1, delivering key product and technology milestones and announcing plans to expand our manufacturing capacity in both the US and Europe to meet the continued demand for semiconductors and drive a more balanced, resilient global supply chain.”
The company also made strides towards creating a balanced and resilient supply chain for semiconductor manufacturing with new investments announced in the U.S. and Europe, along with the opening of the latest leading-edge research and development factory in Oregon.
For the second quarter the company is targeting revenues USD 18.0 billion with a gross margin of 48%. Full year 2022 revenue is expected to reach USD 76.0 billion with a gross margin of 49%.