Intel Corp. reported better-than-projected fourth-quarter revenue, while the semiconductor maker cautioned that its push to become more competitive is still a work in progress.

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Intel Corp. (INTC) on Thursday reported a loss of $126 million in its fourth quarter. The Santa Clara, California-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.

Company's quarterly results and forecast were overshadowed by questions about its long-term strategy and efforts to replace former CEO Pat Gelsinger, who was ousted last month

Analysts expect the Santa Clara, California-based company to report quarterly earnings at 12 cents per share, down from 54 cents per share in the year-ago period. Intel projects to report revenue of $13.83 billion for the recent quarter, compared to $15.41 billion a year earlier, according to data from Benzinga Pro.

Santa Clara, California-based Intel (NASDAQ:INTC) is no stranger to buyout rumors. In September, The Wall Street Journal reported about a potential takeover bid from its rival Qualcomm (QCOM ...

Gross margin, or the percentage of sales remaining after excluding the cost of production, was 39.2% in the fourth quarter and will be 33.8% in the current period. At its peak, Intel regularly reported gross margin of well above 60%. Nvidia’s is above 70%.

Intel is shelving its planned Falcon Shores AI infrastructure system for datacenters and will instead use it as an internal test chip.

Intel Corp. shares fell after the chipmaker issued a revenue forecast for the current period that fell short of analysts’ expectations.

Intel Corporation faces challenges with market share & revenue, but their turnaround plan shows promise. Click for my review INTC Q4 earnings and its prospects.

Chips Communities United is calling for more transparency regarding the chemicals that are used to make semiconductors.

Intel last year scrapped a 2024 forecast that it would sell over $500 million worth of its new AI processors, named Gaudi, suggesting they struggled to compete against Nvidia's chips. On an adjusted, per-share basis, Intel forecast it would break-even for the current quarter. Analysts expect adjusted profit of 9 cents per share.

Intel on Thursday posted December-quarter results that beat analysts' low expectations, while its forecast for current-quarter revenue missed estimates as the chipmaker grapples with tepid demand for its data center chips and as investors wait for a new CEO.