Catenaa, Friday, July 25, 2025- Intel reported its second-quarter earnings on Thursday, beating on revenue but missing on earnings per share due to impairment charges.
The company said it is cutting its headcount by 15% and expects to have approximately 75,000 employees by the end of the year.
Intel also offered an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. Wall Street was expecting $12.6 billion.
The chipmaker’s stock fell by over 9.5% on Friday, after falling by over 8% pre-market. Shares of Intel are off 34.2% over the last 12 months, though up 2 % year to date.
Intel’s market capitalization on Friday was $89.2 billion. Rival AMD’s market cap tops out at $270.7 billion. AI leader Nvidia dwarfs both companies with a market cap north of $4.2 trillion.
For the quarter, Intel saw an adjusted loss per share of $0.10 on revenue of $12.8 billion. Wall Street was anticipating adjusted EPS of $0.01 on revenue of $11.8 billion, based on Bloomberg’s analyst consensus data.
The company reported adjusted EPS of $0.02 and $12.8 billion in revenue in the same period last year.
Intel said it took an $800 million non-cash impairment and accelerated depreciation charges related to “excess tools with no identified re-use” and roughly $200 million one-time period costs for Q2.
The company has also canceled planned projects in Germany and Poland and is slowing construction of its facility in Ohio.
Intel’s Products business, which includes sales of its laptop and desktop CPUs and data center and AI chips, brought in $11.8 billion versus expectations of $10.9 billion.
Intel is dealing with increased competition from AMD and the rising threat from Qualcomm, which is pushing further into the PC chip space with its Snapdragon X Plus and X Elite chips.
