India, July 24 -- Intel Corporation (INTC) Thursday reported its second-quarter results with loss widening from the last year. However, the company's revenues for the quarter beat Wall Street estimates.
The company also issued an upbeat guidance for the third quarter and added that it is slowing down the construction of its chip factory.
Looking forward, Intel said it will no longer move forward with planned projects in Germany and Poland. The company also intends to consolidate its assembly and test operations in Costa Rica into its larger sites in Vietnam and Malaysia. In addition, Intel will further slow the pace of construction in Ohio to ensure spending is aligned with market demand.
For the second quarter, the company reported a ne...