Intel Financials and Layoffs

Second-Quarter Earnings Release and Webcast

Intel Corporation plans to release its second-quarter 2024 earnings news release today and will hold a public webcast at 2 pm PDT to discuss the results.

Financial Highlights

For the first quarter of 2024, Intel reported revenue of $127 billion, a 9% increase year over year.

The company also reported a GAAP earnings loss per share (EPS) attributable to Intel of $0.16.

Cost-Cutting Measures

Amid these financial results, Intel has announced plans to lay off thousands of employees this year and pause dividend payments in the fourth quarter as part of a cost-reduction strategy.