Summary by Moomoo AI
On August 1, 2024, Intel Corporation released its second-quarter financial results for the period ending June 29, 2024, and provided forward-looking statements for the third quarter of 2024. The report highlighted a second-quarter revenue of $12.8 billion, a 1% decrease year over year, and a GAAP loss per share of $(0.38), with a non-GAAP EPS of $0.02. Intel forecasted third-quarter revenue between $12.5 billion and $13.5 billion, with an expected GAAP EPS loss of $(0.24) and non-GAAP EPS loss of $(0.03). The company announced a comprehensive cost reduction plan, including a more than 15% reduction in headcount, aiming to resize and refocus operations. Additionally, Intel plans to suspend its dividend starting in the fourth quarter of 2024, with a long-term commitment to resume competitive dividends as cash flows...Show More
