Technology giant Intel's (NASDAQ: INTC) shares are trending over 5% higher despite a weak outlook. The company cut its FY2022 outlook much below analysts' expectations, citing ongoing macro challenges. Investors cheered the company's cost-cutting initiatives worth $10 billion to be achieved by 2025. A Snapshot of Intel’s Q3 Results   Adjusted earnings of $0.59 per share surpassed the consensus estimate of $0.34 per share but declined 59% year-over-year due to lower revenues and margins. Meanwhile, revenue declined 20% to $15.3 billion, reflecting lower revenue from the Client Computing and Datacenter and AI business segments. The Client Computing segment revenues were negatively impacted by lower demand for personal computer (PC) chips.
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Intel (NASDAQ:INTC)
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