Intel 2Q Earnings Fall Amid Economic Headwinds
SANTA CLARA (CBS SF) – Intel, the world’s largest chipmaker, says the weak global economy is slowing its growth, and revenue for the current quarter is likely to come in below Wall Street expectations.
Intel Corp.’s earnings fell 4.3 percent in the latest quarter as operating expenses rose faster than revenue.
Second-quarter net income was $2.83 billion, or 54 cents per share, down from $2.95 billion, or 54 cents per share, a year earlier.
Analysts polled by FactSet were expecting earnings of 52 cents per share.
Revenue rose 3.6 percent to $13.5 billion. Analysts were expecting $13.54 billion.
The Santa Clara company said it expects $13.8 billion to $14.8 billion in third-quarter revenue, with a midpoint of $14.3 billion, below the analyst forecast of $14.6 billion.
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