• 2 days ago
Intel's shares surged 7% in extended trading on Thursday after the company reported stronger-than-anticipated earnings and quarterly guidance above estimates. The chipmaker is executing significant restructuring initiatives, including a planned workforce reduction of over 16,000 employees by Q4 2025 and a reduction in real estate assets. The company announced plans to establish its foundry business as an independent subsidiary, creating alternative funding avenues.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Intel shares surged 7% in extended trading on Thursday after the company reported stronger
00:07than anticipated earnings and quarterly guidance above estimates. The chipmaker is executing
00:12significant restructuring initiatives, including a planned workforce reduction of over 16,000
00:17employees by Q4 2025 and a reduction in real estate assets. The company announced plans to
00:24establish its foundry business as an independent subsidiary, creating alternative funding avenues.
00:29For all things money, visit Benzinga.com slash GSTV.

Recommended

3:27
I
Up next
WATCH: Anti-Trump Rallies Rock American Elections | Will Trump Lose To U.S' Women Voters?
Oneindia
3:26
U.S Awaits Trump vs. Harris Showdown in Closest Election Yet| Unmatched Early Turnout Recorded
Oneindia
4:32
Biden Attacks Trump Supporters, Claims They're the Kind of People ‘You'd Like to Smack in the Ass’
Oneindia
0:44
CEO Andy Jassy Eyes AI As Key Growth Driver For Amazon’s Future, Seen As 'Once-In-A-Lifetime' Opportunity
Benzinga
0:35
Boeing Strike Hits U.S. Jobs Report Ahead of Election and Fed Meeting, Potentially Reducing October Payrolls
Benzinga
0:41
BlackRock's New iShares ETF Aims Beyond Magnificent Seven
Benzinga
0:36
Amazon Cloud Growth Continues As AI Revenue Soars
Benzinga
0:37
Microsoft Stock Slides 6% As AI Investments, Softer Q2 Draw Investor Focus
Benzinga
0:45
Starbucks To Implement 'Guardrails' To Put Limits On Customized Drink Orders
Benzinga
0:35
Boeing Strike Could End as Union Endorses New Contract Offer. Workers To Vote On 38% Pay Raise.
Benzinga
0:31
AMD Shares Rebound After Chipmaker Posts Q2 Beat, Guidance Tops Expectations: CEO Lisa Su Says AI Business Accelerating
Benzinga
0:42
Intel Shares Surge 8% After Restructuring Plans for Its Foundry Business Announced. CEO Gelsinger Leads Restructuring Amid Struggles in Chipmaking Sector.
Benzinga
0:42
How Will Starbucks Return To Its Roots? With 200,000 Sharpies
Benzinga
0:54
This Day in History: John F. Kennedy Is Assassinated
Wibbitz Top Stories
0:38
Nvidia Posts Impressive $30 Billion in Q2 Sales, but Shares Slip 5%. Are Investors Souring on the AI Chip Giant
Benzinga
0:42
Intel Sells Arm Holdings Stake, Raises Over $140 Million as Its AI Chip Development Lags Behind Rivals
Benzinga
0:46
Nvidia Rival Cerebras Systems Files for IPO Amid Competitive AI Chip and Cloud Market
Benzinga
0:39
Nvidia Shares Drop 6% After Reporting Record Revenues. Can the Chip Giant Sustain Its Dominance?
Benzinga
2:56
TSMC Is Reporting Lower Revenue But It Still Looks Like A Buy
Bullish Studio
0:45
Unity Software Announces Layoffs Of 1,800 Employees, Representing 25% Of Its Workforce
Benzinga
0:42
Chip Stocks Drive Market Turmoil. Intel Plunges 20% After Grim Earnings Report and TSMC Dips More Than 4%
Benzinga
0:42
IBM Shares Slip On Q3 Net Loss Tied To One-Time Pension Charge
Benzinga
0:32
DoorDash Exceeds Revenue Expectations in Q2 Performance, Sees Surge in Total Orders
Benzinga
0:39
TSMC Raises Revenue Outlook for 2024, As AI Chip Demand Fuels Record-Breaking Revenue
Benzinga
0:39
Nvidia Hits Record Close, Fueled by AI Spending. Investors Anticipate Earnings Season From Major Tech Customers.
Benzinga