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
Technology Patent Wars
Case studies from large organisations across all sectors
... And rich media, and flexible working, and peaks in traffic ...
Upcoming Events
Join us for this Computing web seminar, in which the Head of BI at the Co-operative Group Nick Colebourn will be explaining just how he reigned in the Group’s sprawling database estate and how significant savings were realised and data quality improved as a result.
Date: 31 May 2012
Time: 11:00 AM
Live June 13th 11:00am: Register now. During this web seminar we will be looking at the sorts of incidents that can bring data centres grinding to a halt and what can be done about them.
Date: 13 Jun 2012
Time: 11:00 am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
