Reported 2 months ago
Intel reported disappointing second quarter earnings, missing revenue and earnings expectations, leading to a 16% drop in stock price. The company announced a $10 billion cost reduction plan that includes cutting 15% of its workforce and suspending dividend payments. Intel’s revenue forecast for Q3 is also below analyst expectations as it competes in a challenging PC market, aiming to reclaim market share amidst rising competition from AMD and Qualcomm.
Source: YAHOO