Intel issues dour earnings report, weak forecast

📆 2023-01-27 04:33:00
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Troubled chip giant Intel posted weaker than expected quarterly sales along with a financial outlook that fell well short of Wall Street expectations.

First quarter revenue projection: $10.5 billion to $11.5 billion .The company said it aims to cut $3 billion in costs this year and reduce costs by a total of $8 billion to $10 billion by the end of 2025.

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