secwatch.observer — SEC 8-K summary
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Issuer:     INTEL CORP (INTC)
CIK:        0000050863
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000050863-24-000122
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intel Q2 revenue $12.8B (-1% YoY); GAAP EPS -$0.38; announces $10B cost cuts and dividend suspension
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- Q2 revenue $12.8B, down 1% YoY; GAAP net loss $1.6B, EPS -$0.38; non-GAAP EPS $0.02.
- Q3 guidance: revenue $12.5B-$13.5B, GAAP EPS -$0.24, non-GAAP EPS -$0.03.
- Announces $10B cost reduction plan: cut >15% headcount, reduce R&D/MG&A to ~$17.5B in 2025, cut capex.
- Suspends dividend starting Q4 2024; commits to competitive dividend when cash flows improve.
- Achieved milestones on Intel 18A: released 1.0 PDK, powered on Panther Lake and Clearwater Forest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50863/000005086324000122/0000050863-24-000122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50863/000005086324000122/intc-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000050863-24-000122

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