Intel's Q2 earnings were a letdown - net revenue at $12.8 billion, down 1% year-over-year, with adjusted EPS of 2 cents missing expectations and a $1.61 billion net loss.
CEO Pat Gelsinger admitted disappointment, citing challenging second-half trends, leveraging new operating model, and focusing on efficiency for improvement and transformation.
Accelerated AI PC chip ramp-up contributed to disappointing results, leading to a strategic focus on cost reduction, maintaining investments, and overall transformation.
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