SANTA CLARA (dpa-AFX) - Intel Corporation (INTC) Thursday reported its second-quarter results with loss widening from the last year. However, the company's revenues for the quarter beat Wall Street estimates.
The company also issued an upbeat guidance for the third quarter and added that it is slowing down the construction of its chip factory.
Looking forward, Intel said it will no longer move forward with planned projects in Germany and Poland. The company also intends to consolidate its assembly and test operations in Costa Rica into its larger sites in Vietnam and Malaysia. In addition, Intel will further slow the pace of construction in Ohio to ensure spending is aligned with market demand.
For the second quarter, the company reported a net loss of $2.92 billion or $0.67 per share, compared to $1.61 billion or $0.38 per share last year.
Intel recognized approximately $800 million of non-cash impairment and accelerated depreciation charges related to excess tools with no identified re-use and approximately $200 million of one-time period costs in the second quarter of 2025.
On an adjusted basis, the company reported a loss per share of $0.10 compared to earnings per share of $0.02 last year.
Revenues for the quarter remained relatively flat at $12.86 billion compared to $12.83 billion last year.
Analysts expected earnings of $0.01 per share on revenues of $11.88 billion for the quarter.
For the third quarter, the company expects revenues of $12.6 to $13.6 billion and to break even on earnings. Analysts currently estimate earnings of $0.04 per share and revenues of $12.62 billion for the third quarter.
ITNC closed Thursday's trading at $22.63, down $0.86 or 3.66%, on the Nasdaq.
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