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Intel is projecting a loss next quarter, something that hasn't happened in a really long time. Pat doesn't want it to happen on his watch, but I think it would

by elihu 4y ago

Intel is projecting a loss next quarter, something that hasn't happened in a really long time. Pat doesn't want it to happen on his watch, but I think it would have been better to cut the dividend or take the loss than to do pay/bonus/benefit cuts like this. Wouldn't be surprised if the words "organize" and "union" are spoken in hushed tones by a few people in the hallways tomorrow. If that gets any momentum behind it it would be a glorious thing and long overdue, but it might not help with Intel's financial difficulties or inspire shareholder confidence...

graton 4y ago
They had a loss last quarter of $700 million [1]. They had a loss of $500 million in Q2 of 2022 [2] [1] https://www.intc.com/news-events/press-releases/detail/1600/intel-reports-fourth-quarter-and-full-year-2022-financial https://www.intc.com/news-events/press-releases/detail/1600/... [2] https://www.intc.com/news-events/press-releases/detail/1563/intel-reports-second-quarter-2022-financial-results https://www.intc.com/news-events/press-releases/detail/1563/...
- elihu 4y ago
  Good point: it was a loss according to GAAP, but the non-GAAP results weren't a loss. Whereas it looks like they're projecting a non-GAAP loss as well next quarter. (I don't know what the relevant differences are here on GAAP vs non-GAAP.)
  - graton 4y ago
    GAAP = Generally Accepted Accounting Principles non-GAAP = Whatever we decide? :) Okay, I don't really know. Real info: https://www.investopedia.com/articles/financial-analysis/062716/gaap-vs-nongaap-which-should-you-consider-evaluation.asp https://www.investopedia.com/articles/financial-analysis/062...
    - elihu 4y ago
      Yeah, non-GAAP is basically, "we've decided to account for certain things differently because the standard accounting rules would be misleading in our business." Companies could abuse non-GAAP reporting, but there's nothing particularly unusual or nefarious about reporting non-GAAP numbers along with the required GAAP numbers, or treating the former as the more accurate representation of reality.

by elihu 4y ago

graton 4y ago

They had a loss last quarter of $700 million [1]. They had a loss of $500 million in Q2 of 2022 [2] [1] https://www.intc.com/news-events/press-releases/detail/1600/intel-reports-fourth-quarter-and-full-year-2022-financial https://www.intc.com/news-events/press-releases/detail/1600/... [2] https://www.intc.com/news-events/press-releases/detail/1563/intel-reports-second-quarter-2022-financial-results https://www.intc.com/news-events/press-releases/detail/1563/...

elihu 4y ago
Good point: it was a loss according to GAAP, but the non-GAAP results weren't a loss. Whereas it looks like they're projecting a non-GAAP loss as well next quarter. (I don't know what the relevant differences are here on GAAP vs non-GAAP.)
- graton 4y ago
  GAAP = Generally Accepted Accounting Principles non-GAAP = Whatever we decide? :) Okay, I don't really know. Real info: https://www.investopedia.com/articles/financial-analysis/062716/gaap-vs-nongaap-which-should-you-consider-evaluation.asp https://www.investopedia.com/articles/financial-analysis/062...
  - elihu 4y ago
    Yeah, non-GAAP is basically, "we've decided to account for certain things differently because the standard accounting rules would be misleading in our business." Companies could abuse non-GAAP reporting, but there's nothing particularly unusual or nefarious about reporting non-GAAP numbers along with the required GAAP numbers, or treating the former as the more accurate representation of reality.