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Intel's share price recently experienced a steep decline of nearly 10%, opening at $20.39. The company's second-quarter financial report revealed that revenue stood at $12.86 billion, remaining stagnant compared to the same period last year. However, the net loss widened considerably to $2.9 billion. This marks Intel's sixth consecutive quarterly loss, setting a 35-year record for the longest stretch of uninterrupted losses. Furthermore, the company's gross margin slipped to 27.5%, and its adjusted loss per share came in at $0.10, significantly underperforming market expectations. Despite Intel's forecast of a slight improvement in third-quarter revenue, its earnings guidance indicates a break-even point, far below consensus market projections. These figures underscore the substantial financial pressures and market challenges that Intel continues to face.
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