Intel Reports Q3 2024 Earnings with Revenue Growth and Significant Restructuring Charges
Intel (INTC) reported Q3 2024 revenue of $13.3 billion, up 4% sequentially, but faced significant non-GAAP charges, including a $3 billion impairment and depreciation impact, leading to a $0.46 non-GAAP EPS loss. The company also announced a workforce reduction of over 15% and a 20% reduction in capital expenditures as part of its cost containment strategy.
Topics: Capital Expenditure Earnings EPS Gross Margin Operating Cash Flow Restructuring Revenue Workforce Reduction