Intel issues weak guidance, says it will slash expenses this year
Publishing timestamp: 2025-04-24 20:07:54
Summary
Intel reported first-quarter earnings that beat estimates, but issued disappointing guidance and announced plans to slash expenses under new CEO Lip-Bu Tan. The stock fell in extended trading as the company plans to cut operational and capital expenses in 2025. Intel's first earnings report under Tan's leadership showed a net loss, but the company is aiming to become more efficient by reducing expenses and management layers. Tan is focused on turning around the struggling chipmaker and has already started making changes to the leadership team.
Sentiment: MIXED
Keywords: dividends, nvidia corp, artificial intelligence, david zinsner, business news, technology, earnings, business, apple inc, generative ai, breaking news: technology, semiconductor device manufacturing, pat gelsinger, intel corp,
Source: https://www.cnbc.com/2025/04/24/intel-intc-q1-2025-earnings-report.html