Intel's revenue fell 22% in the second quarter

In the second quarter of this year, Intel's income was 1 thousand 530 million dollars. It is 22 percent less than 1 thousand 960 million dollars in the same period last year. The US-based company posted a net loss of $454 million in the quarter ended July 2.

Last year the net profit of the company was 5 billion dollars. The American technology giant passed its worst quarter since 1999. CNBC confirmed this information in Intel's income and expenses financial report.

Intel's revenue from the Client Computing Group, or CCG, was $7.7 billion in the second quarter, according to recently released earnings data. It has decreased by 25 percent compared to the same quarter last year. Revenue from the data center and AI group, or DCAI, fell 16 percent to $4.6 billion. In addition, income from Intel Foundry Services, or IFS decreased by 54 percent to 122 million dollars.

Intel CEO Pat Gelsinger said in a statement that last quarter's revenue was well below our target. We must do better in the coming days.

Intel lowered its full-year revenue expectations due to lower revenue in the April-June quarter. Intel predicts $6,500 billion in revenue in 2022. Earlier, the company had predicted a revenue of 6 thousand 8 billion dollars.

Due to the increase in global inflation, the opening of schools-colleges and office courts, people are now spending less time on computers than before. During the lockdown of the Covid-19 pandemic, the purchase of computers for work and classes from home increased. China's coronavirus restrictions and the war in Ukraine have exacerbated the chip's supply chain crisis. According to IT research firm Gartner, global PC sales are expected to decline by 9.5 percent this year.