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Intel’s not out of the PC slump yet.

Q2 2023 earnings are down 15 percent to $12.9 billion, but Intel’s stopped the bleed — it’s actually making profit of $1.5 billion, after consecutive $2.8B and $0.7B quarterly losses. (Revenue dipped 36 percent last quarter.) Even PC chips are only down 12 percent, compared to the 16.6 percent or 13.4 percent decline in global PC shipments that Gartner and IDC reported two weeks back.

Intel says its slightly rebranded Meteor Lake chips are still coming in 2H 2023 — at least one of them in Q3 specifically.