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Intel posts its biggest quarterly loss at $16.6 billion
short by Mansi Agarwal / on Saturday, 2 November, 2024
Intel recorded a loss of $16.6 billion in the third quarter, the biggest quarterly loss in its 56-year history. The company attributed the losses to $15.9 billion in charges from lower asset valuations and a $2.8 billion restructuring charge related to laying off over 15,000 employees. Intel's revenue also dipped by 6% YoY to $13.3 billion in the quarter.
read more at NewsBytes