Intel (INTC) Financial Update Shows Factories’ Revenue Dropping, Losses Widening
Intel Corp. said that revenue from its factories is declining and losses are widening, showing the challenges of an expensive expansion plan. Intel Foundry, a new division of the company responsible for its manufacturing operations, had sales of $18.9 billion in 2023, down from $27.5 billion the prior year, the company said in a filing Tuesday. The operating loss at the new division widened to $7 billion from $5.2 billion in 2022....
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