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Intel says third-quarter revenue below guidance

Intel says third-quarter revenue below guidance

Intel said Friday that its third-quarter revenue will be below the company’s prior outlook.

The world’s largest chipmaker now expects third-quarter revenue to be $11 billion, plus or minus $200 million, compared with the previous expectation of between $11.2 and $12 billion.

Revenue has been squeezed by weaker than expected demand for consumer PCs in “mature” markets, but inventories across the supply chain appear to be in-line with the company’s revised expectations, Intel said.

That jibes with a cautious forecast for the third quarter from IDC. The market researcher said last week that global market demand for processors is expected to be weak in August.

Read More/Source: C|Net

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