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As Intel delivers strong earnings, incoming CEO Pat Gelsinger says chip process on track
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Intel Corp.’s incoming Chief Executive Pat Gelsinger told investors today that the company’s troubled seven-nanometer chip manufacturing technology is on track to start producing chips in 2023, but he said the company will likely outsource an increasing amount of its manufacturing to outside producers.
Gelsinger (pictured) made his remarks as Intel reported strong fourth-quarter financial results that blew away analysts’ forecasts in what was the last full quarter under its current CEO Bob Swan.
The company reported a profit before certain costs such as stock compensation of $1.42 per share on revenue of $19.98 billion, down 1% from a year ago. That was well ahead of Wall Street’s forecast of earnings of $11.10 per share on revenue of $17.5 billion.
Provided by Dow Jones
By Asa Fitch Intel Corp. s incoming Chief Executive Pat Gelsinger said the semiconductor giant would outsource more chip production as it posted pandemic-fueled full-year results that also underscore the breadth of challenges the new CEO will face. Mr. Gelsinger on Thursday said Intel would have other chip companies make more of its products, even if the bulk of its new chips in coming few years would be made in house. The shift marks a break from Intel s traditional reliance on its own factories to make its most-advanced chips effectively an acknowledgment that it has fallen behind chip-making rivals.
Provided by Dow Jones
By Asa Fitch Intel Corp. s incoming Chief Executive Pat Gelsinger said the semiconductor giant would outsource more chip production, as it posted pandemic-fueled full-year results that also underscored the breadth of challenges the new CEO will face. Mr. Gelsinger on Thursday said Intel would have other chip companies make more of its products, even if the bulk of its new chips in the coming few years would be made in house. The shift marks a break from Intel s traditional reliance on its own factories to make its most-advanced chips effectively an acknowledgment that it has fallen behind chip-making rivals.
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