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Intel Says 3rd-Quarter Revenues to Be Lower Than Originally Forecast
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Intel has warned that its third-quarter revenue is expected to be below the company's previous outlook as a result of weaker than expected demand in a challenging economic environment. The company now expects third-quarter revenue to be in the region of $12.9 to $13.5 billion, compared to the previous expectation of $13.8 billion to $14.8 billion.
Relative to the prior forecast, the company is seeing customers reducing inventory in the supply chain versus the normal growth in third-quarter inventory; softness in the enterprise PC market segment; and slowing emerging market demand. The data center business is meeting expectations.
The company's expectation for third-quarter gross margin is now 62 percent, plus or minus one percentage point; lower than the previous expectation of 63 percent, plus or minus a couple of percentage points.
Expectations for R&D and MG&A spending and depreciation in the third quarter remain unchanged. Full-year capital spending is expected to be below the low-end of the company's previous outlook of $12.1 billion to 12.9 billion, as the company accelerates the re-use of existing equipment to the 14nm node.
Intel plans to report its earnings for the third quarter of 2012 on the 16th October.
Tags: [intel]
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