Intel revenue down 23%
Intel Corp has announced its preliminary fourth quarter financial information with revenue of around $8.2billion – down 23% year over year.
Revenue will be lower than the company’s previous expectation as a result of further weakness in end demand and inventory reductions by its customers in the global pc supply chain.
Intel had originally predicted fourth quarter revenue to be between $10.1bn and $10.0bn, with a gross margin of around 59%. However, in November, this forecast was lowered to approximately 55%.
An Intel spokesman said that the company now expects the ‘net gain or loss from equity investments and interest and other to be a loss of between $1.1bn and $1.2bn’. This compares poorly with a previous expectation of a loss of approximately $50million.
