Intel Reports Huge Fourth-Quarter Losses
U.S. chipmaker Intel reports a fourth-quarter 2009 revenue of $8.23 million that is 19% less than the previous quarter and 23% down from a year ago.
Intel's fourth-quarter net income was $234 million, a huge drop from the $1.8 billion of the previous quarter. Compare that with the $2.27 billion net profit in the same 2008 quarter.
Fiscal year 2008 showed a revenue of $37.5 billion, 2% less than the previous year. The gross income margin was 55%, 3.5% higher than in 2007. Net earnings for 2008 were $5.59 billion.
Intel had predicted a decline even before the results emerged. They knew that microprocessor and chip sales were well under the third-quarter numbers and that the net loss from investments and interest had exploded, notably because of the Clearwire investment. Clearwire, experts in WiMax wireless broadband for which Intel makes chips, had lost 64% of its value in 2008, resulting in a $1 billion writedown.
Intel president and CEO Paul Otellini responded to the numbers with, "Intel has weathered difficult times in the past, and we know what needs to be done to drive our success moving forward."
Intel has kept hush on forecasts for the first quarter of 2009. As the business outlook section of their news release reports, "Due to economic uncertainty and limited visibility, Intel is not providing a revenue outlook at this time. For internal purposes, the company is currently planning for revenue in the vicinity of $7 billion."
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Support Our Work
Linux Magazine content is made possible with support from readers like you. Please consider contributing when you’ve found an article to be beneficial.
News
-
Hannah Montana Linux Is Back!
Developer Noah Cagle decided the world needed the once obscure but beloved Linux distribution and gave it a decidedly pink refresh.
-
System76 Refreshes the Lemur Laptop
If you're looking for a laptop with tons of power and battery, look no further than the latest iteration of the System76 Lemur Pro.
-
More than 43 Million Lines of Code in Linux Kernel 7.2
Using the cloc utility, Michael Larabel of Phoronix discovered that Linux kernel 7.2 has over 43 million lines of code.
-
Kubuntu Focus Goes Ultra
The Kubuntu Focus team has upped the performance ante of its M2 and Zr laptops with the latest, greatest CPUs from Intel.
-
Linux Gamers May Soon See Less Mouse Lag in KDE Plasma
Gamers using KDE’s Plasma desktop have been suffering from a slight input delay in mouse movement that could lead to getting fragged.
-
Three Lines of Code Improve Linux Storage Performance
A developer changed three lines of code, giving Linux storage performance a 5% bump.
-
AUR Hit Again with Malicious Packages
Once again the Arch User Repository is plagued by a high volume of malicious packages.
-
Alpine Linux 3.24 Features Fresh Desktops and a Newer Kernel
If you're a fan of Alpine Linux, it's time to upgrade because the latest version has been released with KDE Plasma 6.6, Gnome 50, and Linux kernel 6.18 LTS.
-
EU Open Source Strategy Plays Key Role in Tech Sovereignty Package
Comprehensive measures adopted by the European Commission aim to reduce dependency on non-EU countries.
-
Linux Foundation Report Indicates AI Driving Tech Hiring
Within growing security and skills gaps, AI has been found to be a positive driving force behind tech hiring trends in Europe.