Intel Says Forecasting Q1 2023 Revenue Of $10.5 Billion To $11.5 Billion
Jan 26 (Reuters) -Intel Corp INTC.O:
INTEL - FORECASTING Q1 2023 REVENUE OF $10.5 BILLION TO $11.5 BILLION; EXPECTING Q1 LOSS PER SHARE OF $0.80 (NON-GAAP LOSS PER SHARE OF $0.15)
INTEL CORP - IN THE FOURTH QUARTER, WE TOOK STEPS TO RIGHT-SIZE THE ORGANIZATION AND RATIONALIZE OUR INVESTMENTS
INTEL CORP - SEES Q1 GROSS MARGIN ABOUT 34.1%
INTEL CORP - EFFECTIVE JANUARY, INCREASED THE ESTIMATED USEFUL LIFE OF CERTAIN PRODUCTION MACHINERY AND EQUIPMENT FROM FIVE YEARS TO EIGHT YEARS
INTEL CORP - ACTIONS UNDERPIN OUR COST-REDUCTION TARGETS OF $3 BILLION IN 2023, AND SET STAGE TO ACHIEVE $8 BILLION TO $10 BILLION BY END OF 2025
INTEL CORP - CHANGE IN DEPRECIABLE LIFE WILL NOT BE COUNTED TOWARD $3 BILLION IN COST SAVINGS IN 2023 OR THE $8 BILLION TO $10 BILLION EXITING 2025
INTEL CORP - EXPECTS TOTAL DEPRECIATION EXPENSE IN 2023 TO REDUCE BY ROUGHLY $4.2 BILLION
INTEL CORP - EFFECTIVE JAN 2023, INCREASED THE ESTIMATED USEFUL LIFE OF CERTAIN PRODUCTION MACHINERY AND EQUIPMENT FROM FIVE YEARS TO EIGHT YEARS
INTEL - Q1 2023 OUTLOOK INCLUDES ESTIMATED $350 MILLION- $500 MILLION BENEFIT TO OPERATING MARGIN OR $0.07 TO $0.10 BENEFIT TO EPS FROM CHANGE IN DEPRECIABLE LIFE
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