Intel announced a massive $18.7bn set of restructuring and asset impairment charges on Thursday in an attempt to clear the decks and accelerate its effort to rebuild its competitiveness.
A less-drastic revenue decline in the chipmaker’s latest quarter than investors had feared drove a 10 per cent rebound in its battered shares in after-market trading on Thursday.
Its forecast of $13.3bn to $14.3bn in revenue for the current quarter and pro forma earnings per share of 12 cents came in ahead of Wall Street estimates of $13.6bn in revenue and 8 cents in earnings.
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