Intel Posts Disappointing Quarterly Results, Eliminates Q4 Dividend, and Plans to Cut 15% of Workforce

Watch Intel Posts Disappointing Quarterly Results, Eliminates Q4 Dividend, and Plans to Cut 15% of Workforce - Benzinga on Dailymotion

Transcript

00:00It's Benzinga, and here's what's on the block.

00:03Intel reported weaker-than-expected quarterly results and issued light guidance for the

00:06current quarter.

00:08Revenue declined 1% year-over-year.

00:10The company reported a significant net loss due to investments in Core Ultra PC chips

00:15designed for AI workloads, reversing a profit from the previous year.

00:19Intel plans to cut around 15% of its workforce, eliminate its fiscal fourth-quarter dividend,

00:25and reduce capital expenditures by over $10 billion as part of a cost-cutting plan.

00:29For all things money, visit Benzinga.com.