Chipzilla's Foundry business weighs down the Gelsinger gang - for now

Intel has reported double-digit growth in client computing revenue, growing demand for AI PCs, and promised of strong gains in the second half of 2024 – but also reported a first quarter loss that sent the chip biz's stock sliding in after-hours trading Thursday.

On the x86 giant's Q1 earnings call, CFO David Zinsner's second quarter revenue forecast of between $12.5 billion and $13.5 billion fell short of the $13.6 billion financial analysts anticipated.

While the market was less than impressed by Intel's Q2 predictions, its Q1 revenues landed just ahead of expectations, growing nine percent year over year to $12.7 billion. Much of this was driven by a 31 percent YoY ramp in client computing sales in the first three months of this year, which accounted for $7.5 billion of Intel's overall revenues. But that wasn't enough to stem ...