Intel Corp (NASDAQ:INTC) shares are trading lower Wednesday after the company disclosed its foundry business recorded an operating loss of $7 billion last year.
What Happened: After the market close on Tuesday, Intel announced a new financial reporting structure designed to drive increased cost discipline and higher returns by providing greater transparency, accountability and incentives.
Beginning with the first quarter 2024, Intel will report segment results aligned with the following operating segments: Client Computing Group, Data Center and AI, Network and Edge, Intel Foundry, Altera, Mobileye, and Other.
Intel also revealed financial information for its foundry ...