07 Jan 2009
Intel announced its preliminary fourth-quarter results today, showing that revenue will be down by nearly a quarter year on year.
The chip giant forecast fourth-quarter revenue of $8.2bn (£5.4bn), down 20 per cent from the third quarter and 23 per cent from a year ago.
The figures are even lower than Intel's previous prediction for the period published on 12 November of between $8.7bn and $9.3bn (£5.7bn and £6.1bn).
However, prior to this, the chip maker's prediction for the quarter was a much healthier $10.1bn to $10.9bn (£6.6bn to £7.1bn) in revenue.
Intel said in a statement that the $2bn (£1.3bn) shortfall from its original forecast was due to "weakness in end demand and inventory reductions by its customers in the global PC supply chain".
Spending is expected to be around $2.6bn (£1.7bn), lower than the previous prediction of approximately $2.8bn (£1.8bn), while restructuring and asset impairment charges are expected to be unchanged at approximately $250m (£164m).
Additional information will be provided by the company in a scheduled earnings announcement on 15 January.
Have your say on this article
Newsletters
Latest stories from Chips and Components
Latest videos
You may also like
Chips and Components jobs
Will Google’s new privacy policy impact how you use its services?
Rubbish in... rubbish enterprise. Why proper data management is so important (video, 6 min)
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Upcoming Events
Join us to meet other professionals tackling this issue, and hear from Goy Roper, interim head of ICT of Norfolk County Council how his organisation deployed a flexible and intelligent network to cope with the challenge
Date: 07 Mar 2012
Time: 9am
The implementation of robust, relevant digital strategies is more crucial than ever to the success of insurance businesses
Date: 01 Mar 2012
Time: 09:00am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
