Intel Faces $500 Million Loss in Q2, Owing to Lower Demands in Market

  • The U.S. chipmaker revealed it lost nearly $500 million in Q2, its first quarterly loss in years. The company cited weakened demand for PC components and downturns in the broader economy as the main culprits for the declines.
  • Overall, Intel’s revenues were down 22% year over year. Those results have forced Intel to lower its expected yearly revenues down from $68 billion to $65 billion.

[Via]