Monday, March 4, 2024

Intel reports the highest quarterly loss in the history of the company

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Intel reported first-quarter results yesterday that showed a 133% annual reduction in its earnings per share. Revenue declined nearly 36% year over year to around $11.7 billion.

The loss per share and sales were comparatively better than soft Wall Street anticipations.

For the second quarter, Intel anticipates losing 4 cents per share on an income of $12 billion. That forecast is shy of analyst estimations for earnings of 1 cent per share on $11.75 billion in sales.

In the first quarter, Intel swung to an overall loss of $2.8 billion, which is 66 cents per share, from an overall profit of $8.1 billion ($1.98 per share), in 2022.

Excluding the impact of inventory restructuring, the latest change to employee stock options, and other charges regarding acquisition, Intel said it l

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