Intel: losses on charges in Q3

(CercleFinance.com) - Intel reports an adjusted net loss (non-GAAP) of 46 cents per share for the third quarter of 2024, compared with EPS of 41 cents a year earlier, weighed down by restructuring charges that had an impact of 63 cents.


The microprocessor manufacturer saw its adjusted gross margin fall 27.8 points to 18% on revenues down 6% to $13.3 billion, with a 7% decline for its Client Computing Group (CCG) business within its Intel Products division.

We delivered sales above the mid-point of our guidance, and are acting urgently to position the company for sustainable value creation in the future", says CEO Pat Gelsinger.

Also claiming 'significant progress in its cost reduction plan', Intel says it is targeting non-GAAP EPS of 12 cents, adjusted gross margin of 39.5% and revenues of between $13.3 and $14.3 billion for the final quarter of 2024.

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