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.
