Intel misses: EPS $0.02 versus $0.10 expected. Rev 12.83B vs 12.94 billion

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.

This article was written by Greg Michalowski at www.forexlive.com.