The market reaction was brutal. On August 1st Intel released a dismal set of results. The semiconductor giant\u2019s sales were down by 1%, year on year, and the company declared a net loss of $1.6bn, compared with a profit of $1.5bn in the same period in 2023. \u201cOur costs are too high, our margins are too low,\u201d wrote Pat Gelsinger, its chief executive, in a note to employees. As a consequence, Intel plans to slash 15,000 jobs and to suspend dividends, which it has paid since 1992. Since the results were published its share price has plunged by nearly 30%.<\/p>\n","protected":false},"excerpt":{"rendered":"
The market reaction was brutal. On August 1st Intel released a dismal set of results. The semiconductor giant\u2019s sales were down by 1%, year on year, and the company declared a net loss of $1.6bn, compared with a profit of $1.5bn in the same period in 2023. \u201cOur costs are too high, our margins are too low,\u201d wrote Pat Gelsinger, its chief executive, in a note to employees. As a consequence, Intel plans to slash 15,000 jobs and to suspend dividends, which it has paid since 1992. Since the results were published its share price has plunged by nearly 30%.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55,13,4],"tags":[],"class_list":["post-841095","post","type-post","status-publish","format-standard","hentry","category-it-2-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/841095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=841095"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/841095\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=841095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=841095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=841095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}