Pat Gelsinger, CEO Intel, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024.
Intel posted net income of $2.7 billion, or 63 cents per share, compared to a net loss of $0.7 billion, or 16 cents per share, last year.
Intel CFO David Zinsner said in a statement that Intel had cut $3 billion in costs last year.
Intel's Network and Edge department, which sells parts for carriers and networking, reported $1.5 billion in sales, down 24% from last year.
Intel foundry services, its business making chips for other companies, remains nascent, with $291 million in revenue, a 63% annual increase.
Persons:
Pat Gelsinger, Gelsinger, David Zinsner
Organizations:
Intel, Wall, Gartner, Nvidia, AMD, Taiwan Semiconductor Manufacturing Company, Intel's, Computing, Data Center, Edge
Locations:
Davos, Switzerland