August 01, 2024 at 09:07PM
Intel earnings missed on the top and bottom line.
EPS $0.02 vs $0.10
Revenues $12.83 billion versus $12.94 billion expected
Suspend dividend starting in a Q4 of 2024
Announces a $10 billion cost reduction plan.
Company is announcing a 15% headcount reduction
Shares after the close are trading down -10.12% at $26.10
The company is broken and has been that way as they zig when they should zag and continue to fall behind the likes of AMD, Nvidia.
This article was written by Greg Michalowski at www.forexlive.com.
Intel misses: EPS $0.02 versus $0.10 expected. Rev 12.83B vs 12.94 billion