Intel Profit Plunges 90% Q4

Jan. 16, 2009
Net profit of $234 million down from $8.2 billion

The economic slowdown and slumping demand for personal computers sent Intel's net profit sharply lower as the world's biggest computer chip maker reported its fourth-quarter results on Jan. 15. The company said net profit in the last three months of the year plunged to $234 million, down 90% from a year ago, on revenue of $8.2 billion.

Intel reported profit of $2 billion in the third-quarter of 2008, on $10.2 billion of revenue.

Intel also reported that net profit for the year declined 24% to $5.3 billionon revenues of $37.6 billion, two percent lower than a year ago.

"The economy and the industry are in the process of resetting to a new baseline from which growth will resume," Intel president and chief executive Paul Otellini said. "While the environment is uncertain, our fundamental business strategies are more focused than ever," he said. "Intel has weathered difficult times in the past, and we know what needs to be done to drive our success moving forward. Our new technologies and new products will help us ignite market growth and thrive when the economy recovers."

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Beat the odds. Optimize product costs. Mitigate supply chain issues.

Sept. 12, 2023
Leverage fact-based supplier negotiations. Enhance design. Get to market faster. Our comprehensive Should Cost Analysis guide shows you how.

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!