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Intel lessens third quarter revenue forecast, shares drop as result

Intel drops revenue forecast after experiencing a "challenging macroeconomic environment"

| Business, Financial & Legal News | Posted: Sep 7, 2012 7:31 pm

Intel has decided that it won't see the revenue that it had previously predicted for the third quarter and has lowered their forecast accordingly. The drop is relatively large going from from between $13.8 billion and $14.8 billion to between $12.9 billion and $13.5 billion, over a billion dollar difference between the top numbers.

 

TweakTown image news/2/5/25710_1_intel_lessens_third_quarter_revenue_forecast_shares_drop_as_result.jpg

 

The decreased perspective is due to a "challenging macroeconomic environement," according to Intel. They say the supply chain has decreased the inventory that it keeps, instead of historically growing during the third quarter. Intel also blamed slow demand in emerging markets and a weak enterprise market.

 

Of course, they qualified this change saying that the final figures could vary depending on a large array of different factors. At the time of writing, Intel Corp (INTC) was down $0.90, nearly 3.6 percent, bringing the share value down to $24.19.

NEWS SOURCE
Vr-zone.com

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