http://www.zerohedge.com/news/2016-07-20/intel-reports-worst-gaap-earnings-2009-beats-expectations-thanks-14-billion-addbacks
While it is unclear why Intel stock is down after hours after reporting Q2 2016 earnings, which we can mostly attribute to the small miss in revenue, which came in at $13.5 billion, below the $13.55 billion expected, coupled with a data center group which grew only 5%, below the 15% growth forecasted (on platform volumes rising 5% and platform average selling prices down 1%,) , despite the company beating on the bottom line and on profit margin, it is quite clear that just like Microsoft, Intel engaged in yet another egregious non-GAAP fudging exercise when it reported non-GAAP EPS of only $0.27, which however promptly rose to $0.59, beating expectations of $0.54, only thanks to $1.4 billion in restructuring charge addbacks.