Intel lost more than $23 billion in market value after publishing disappointing financial results. The company's shares fell by 18.9% in trading on NASDAQ, reaching $23.56, Reuters writes. In its report, Intel announced the reduction of more than 15% of its staff, which is about 17,500 employees, as well as the suspension of dividend payments starting in the fourth quarter. In the second quarter of 2024, Intel's revenue decreased by 1%, to $ 12.8 billion. The company recorded a net loss of $ 1.6 billion against a profit of $ 1.4 billion a year earlier. Intel expects revenue in the third quarter to be $ 12.5-13.5 billion, which is below the average analyst estimate of $ 14.35 billion. The company also predicts an adjusted loss of $ 0.03 per share. Due to financial difficulties, Intel will reduce its operating expenses and capital expenditures by more than $ 10 billion in 2025. According to Trading View, Intel's capitalization at the end of the main trading session on August 1 was $ 123.67 billion. In total, since the beginning of 2024, the company has lost more than 50% of its value. The S&P 500 index rose nearly 14% over the same period.