---
title: "Intel Records Massive 187 Billion Dollar Restructuring and Asset Impairment Charges as Share Price Rebounds"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-11-01T08:40:45+00:00"
modified: "2024-11-01T08:40:45+00:00"
date: 2024-11-01
canonical: "https://stockmark.it/intel-records-massive-187-billion-dollar-restructuring-and-asset-impairment-charges-as-share-price-rebounds/"
category: "Tech"
categories: ["Tech"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-08-02T185345.901.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Intel Records Massive 187 Billion Dollar Restructuring and Asset Impairment Charges as Share Price Rebounds

**Published:** November 1, 2024
**Author:** Stockmark.IT Website
**Categories:** Tech
**Featured image:** ![Close-up of Intel Core Ultra processor on a circuit board. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-08-02T185345.901.jpg?fit=1200%2C800&quality=89&ssl=1)

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Intel has unveiled an extensive restructuring programme, announcing $18.7bn in charges as the technology giant aims to revitalise its competitive position in the global chipmaking industry. The company’s shares surged 10 per cent in after-hours trading, buoyed by better-than-anticipated quarterly results.

The Silicon Valley stalwart’s revenue forecast of $13.3bn to $14.3bn for the current quarter, coupled with projected pro forma earnings per share of 12 cents, exceeded Wall Street’s expectations of $13.6bn and 8 cents respectively. These figures have provided a welcome respite for investors following a challenging year.

The substantial charges comprise $2.8bn in restructuring expenses, linked to a previously disclosed reorganisation initiative targeting annual cost reductions of $10bn. The remainder includes $15.9bn in impairment charges related to equipment and goodwill writedowns.

Chief Financial Officer David Zinsner attributed $3.1bn of the charges to equipment writedowns associated with the Intel 7 manufacturing node, reflecting the company’s overoptimistic assessment of post-pandemic demand. “A significant portion of the equipment remained unopened, awaiting deployment,” Zinsner explained.

Despite reporting a non-GAAP loss of 46 cents per share against analysts’ projected loss of 2 cents, Intel’s quarterly revenue decline of 6 per cent to $13.3bn exceeded market expectations. The company maintains its development trajectory remains on schedule, particularly concerning new chip launches including the AI-focused Lunar Lake and server-oriented Granite Rapids.

The positive market response offers temporary relief following a challenging period that saw Intel’s stock value plummet by 55 per cent this year, including a dramatic 26 per cent single-day decline after its previous earnings announcement.

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