Intel claims hacker obtained financially sensitive information

Intel said it was the victim of a hacker who stole financially sensitive information from its corporate website on Thursday, prompting the company to release its income statement ahead of schedule.

The US computer chipmaker believed an attacker had obtained advanced details of a solid earnings report he was due to release after the exchange closed, said George Davis, chief financial officer.

He released his official profit announcement after finding out about the problem six minutes before the market closed. Intel shares rose more than 6% on Thursday, including nearly 2% in the last 15 minutes of trading.

“An infographic has been hacked from our PR editorial site,” Davis said. “We put [our earnings] as soon as we learned of it.

He did not provide further details, but said the leak was the result of an illegal action that had not involved any unintentional disclosure by the company itself.

An Intel spokesperson added, “We have been informed that our infographic is circulating outside the company. I don’t think it was published. We are continuing to investigate this matter. “

33%

The increase in the volume of Intel PC chips sold in the last quarter

Results revealed an unexpected rebound in sales of Intel’s personal computer chips due to the coronavirus pandemic, as more people bought laptops for work and home study, as well as gaming PCs more powerful.

The results came as Intel claimed to be back on track with its advanced manufacturing plans after a series of delays that put it years behind rivals TSMC and Samsung.

In a phone call with Wall Street analysts, Bob Swan, who is expected to step down as chief executive next month, said progress over the past six months had “increased significantly. [Intel’s] confidence ”that it will be able to produce the company’s most advanced chips in its own semiconductor manufacturing plants from 2023.

The company “restructured” the steps in its new 7-nanometer manufacturing process that had caused the problem, he said, while streamlining operations to increase the likelihood of it reaching the 2023 deadline.

Pat Gelsinger, who will take over as chief executive, also used the call to express support for Intel’s decision to continue in the manufacturing sector, despite activist investor Third Point’s request to consider phasing out chipmaking and focusing on design, an approach followed by most of its rivals.

Mr Gelsinger said the company would produce “the majority” of its chips in-house in 2023, while considering ways to outsource more parts of its manufacturing.

The delays have meant Intel won’t release its first 7nm chips to market until the first half of 2023 – at a time when TSMC plans to ramp up production on its 3nm lines, which are a generation ahead.

In the last quarter, Intel said the volume of PC chips sold jumped 33%. Technology research group IDC had previously said the number of machines shipped globally increased 26% during the period, capping the PC industry’s strongest year in a decade.

Mr Davis said the huge jump highlighted the importance for Intel of owning its own manufacturing plants, which allows production to be redirected to areas of highest demand and to capture more market share.

Although Intel’s revenue slipped 1% in the fourth quarter, to $ 20 billion, that mark was $ 2.5 billion ahead of Wall Street expectations. PC chip revenue rose 9% to $ 10.9 billion.

Data center chip revenues fell 16% to $ 16.1 billion as demand slumped after a period of unexpectedly high demand from cloud service companies.

Pro forma earnings per share of $ 1.52 was unchanged from a year ago, and 42 cents ahead of expectations.

Based on formal accounting principles, Intel reported a 15% drop in net income to $ 5.9 billion, or $ 1.42 per share, mainly reflecting the lack of gain it reported on. previous year following a divestment, as well as changes in its declared tax expense.