Intel beats Q2 analyst guidance but still plans on big cuts going forward

Intel delivered second-quarter revenue of $12.9 billion, above the high end of analyst guidance, flat compared to results a year ago.

But Intel said its profitability was impacted by impairment charges and one-time period costs due to layoffs, but underlying performance was solid. The company has 101,400 people now and that will be as low as 75,000 a year from now.