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Intel reports largest quarterly loss in company history

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The loss per share was slightly better than soft Wall Street expectations, and the stock rose over 3% in extended trading.

Intel reports adjusted earnings and revenue, excluding a bunch of items including inventory restructuring, a recent change to employee stock options, and other acquisition-related charges.

Gelsinger's turnaround plan when he took over was to open up Intel's factories as foundries, or factories that can make chips for other companies. Intel hopes that by 2026 that it can manufacture chips as advanced as those made by TSMC in Taiwan, and it can compete for custom work like Apple's A-series chips in iPhones. Intel said on Thursday it was still on track to hit that goal.

Intel's Client Computing group, which includes the chips that power the majority of desktop and laptop Windows PCs, reported $5.8 billion in revenue, down 38% on an annual basis.

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