Intel (INTC) Reports Q1, Announces $10B Cost Reduction, Will Cut 15% Staff, Suspends Dividend
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/22/2026
- Nasdaq reaches record high close, AI stocks rally
- Meta AI agent triggers heavy selloff in banks, insurers, and travel stocks
- Exclusive: SB Energy Nasdaq IPO moving forward as planned
- AI and earnings keep driving markets as focus shifts to Trump-Xi summit
- Meta bull case increasingly playing out, Mizuho says
- Pennsylvania measles cases near 800 as outbreak grows
- A timeline of Trump administration moves to weaken endangered species protections
- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
- Nasdaq notches record-high close, AI optimism reignites and Treasury yields retreat
- SpaceX and Tesla’s AI linkup is getting deeper. Here’s what Morgan Stanley sees
Intel Reports Second-Quarter 2024 Financial Results; Announces $10 Billion Cost Reduction Plan to Increase Efficiency and Market Competitiveness
August 1, 2024 4:01 PM EDTNEWS SUMMARY
Second-quarter revenue of $12.8 billion, down 1% year over year (YoY). Second-quarter GAAP earnings (loss) per share (EPS) attributable to Intel was $(0.38); non-GAAP EPS attributable to Intel was $0.02. Forecasting third-quarter 2024 revenue of $12.5 billion to $13.5 billion; expecting third-quarter GAAP EPS attributable to Intel of $(0.24); non-GAAP EPS attributable to Intel of $(0.03). Implementing comprehensive reduction in spending, including a more than 15% headcount reduction, to resize and refocus. Suspending dividend starting in the fourth quarter of 2024.... More