Intel forecasts first-quarter below estimates

Intel forecasts first-quarter below estimates

(Reuters) - Intel Corp forecast first-quarter revenue and profit below analysts' estimates on Thursday, adding to concerns of an industry-wide slowdown sparked by the U.S.-China trade war.

The company forecast current-quarter revenue of $16 billion and adjusted earnings 87 cents per share.

Analysts on average were expecting revenue of $17.35 billion and a profit of $1.01 per share, according to IBES data from Refinitiv.

The company reported net income of $5.20 billion, or $1.12 per share, for the fourth-quarter ended Dec. 29, from a loss of $687 million, or 15 cents per share, a year earlier.

Net revenue rose to $18.66 billion from $17.05 billion, but missed estimates of $19.01 billion.

Excluding items, the company earned $1.28 per share, above estimates of $1.22.

(Reporting by Sonam Rai in Bengaluru and and Stephen Nellis in San Francisco)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Jan 25, 2019 04:05:42 IST

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