Intel's (INTC) Q2 Earnings Miss on High Costs, Shares Fall

Intel Corporation (INTC) reported lackluster second-quarter 2024 results owing to soft demand trends and stiff export restrictions that hindered top-line growth. Despite solid traction from its IDM 2.0 (integrated device manufacturing) strategy, margins were significantly affected by an accelerated ramp-up of AI PC, charges related to non-core businesses and unused capacity, unfavorable product mix and competitive pricing by rivals. Consequently, both the top and bottom lines missed the respective Zacks Con ...