Page 38 - Intel Corp News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The results were in line with the profit warning issued by the Israeli company at the start of the year.

Mobileye Global Inc (NASDAQ:MBLY) reported a fiscal first-quarter 2024 revenue decline of 48% year-on-year to $239.00 million, beating the consensus of $231.56 million. Adjusted EPS of $(0.07) missed the consensus loss of $(0.06). “The financial results in the first quarter reflect a supply chain reset as the excess inventory held by our customers is consumed. We are encouraged that the inventory drawdown and associated recovery in revenue appears to be on-track to what we laid out in January,”

Wall Street suffers a double blow in Thursday’s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:META) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase

Intel's report was the first since the company revealed that it had restructured its financial reports to make Intel Foundry a separate line item.

Here’s a full recap of CNBC’s 2024 Stock Draft: Charlotte Flair likes IBM, Eddie George picks Apple.