Intel Q3 2020 Report Published
Intel has published a report for the past quarter. Revenue for the reporting period was $ 18.3 billion, down 4% from the third quarter of last year, when the company earned $ 19.2 billion.
Intel’s profit fell by 29% over the year
Gross profit for the year decreased from 58.9% to 53.1%, while operating profit in annual terms decreased by 22% – from 6.4 to 5.1 billion dollars. Net profit decreased even more significantly. If in the third quarter of 2019 it was equal to $ 6.0 billion, then the current report gives a value of $ 4.3 billion. In other words, Intel’s net profit for the year plummeted by 29%.
It is noteworthy that the company almost does not cut costs for research, development, mergers and acquisitions. Just like a year ago, they amounted to approximately $ 4.7 billion, a decrease of only 1%.
The authors of the report refer to the most significant events of the quarter the sale of the division that produces flash memory . As you know, SK Hynix is the buyer in the deal valued at $ 9.0 billion.
