Intel Corporation (INTC) surprises with Q2 revenue of $12.86 billion, beating estimates. New CEO Lip-Bu Tan implements major changes, including layoffs and factory cutbacks, to enhance competitiveness. The company reports a net loss of $2.9 billion.

INTC lays off 15% of workforce, plans to end year with 75,000 employees. Factory projects in Germany and Poland halted, Ohio construction slowed. Foundry business posts $3.17 billion loss. PC chip sales dip slightly, data center revenue up 4%.

INTC aims for Q3 revenue of $13.1 billion, targeting market share recovery. The company designs and manufactures computing products for global tech companies. It is considered one of the best ESG stocks.

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Read more at Yahoo Finance: Intel Corporation (INTC) Releases Q2 Financial Results; Beats Revenue Expectations