If you want to see the important number, go here and look at the very bottom of the page.
Intel’s processor division held up pretty well considering. Total revenues were almost identical to last quarter, and I see no reason to disbelieve Intel’s claim that they shipped more processors this quarter than last (though any increase was tiny)
Expenses related to making CPUs went up, but with more PIVs being made, that was to be expected. It will probably go up a good deal more the next two quarters. That’s no big deal if Intel can get more money for PIVs than they did last quarter. It is if they can’t.
So Intel profits dropped about $200 million from the processor section. Under the circumstances, that was pretty good.
What was not pretty good was Intel Everything Else. The losses from them increased from $1 billion to $1.2 billion. That’s the real reason why Intel’s numbers look so bad, and as you can see, it has nothing to do with CPUs.
Obviously the tech slump hurt, but Intel Everything Else was bleeding red ink when times were good. Now it’s hemorrhaging. The anchor keeps getting bigger and bigger.
Intel bought into all these things because it expected the CPU business to become less profitable, so they invested in areas they thought would be more profitable. Not turning out that way.
If I were an Intel shareholder, that’s what I’d be concerned about.