Intel forecasts weak second-quarter, cuts full-year outlook

(Reuters) - Chipmaker Intel Corp forecast current-quarter revenue below analysts' estimates and cut full-year outlook on Thursday, sparking worries that an industry-wide slowdown could persist until the end of 2019, sending shares down 7 percent.

Intel forecasts weak second-quarter, cuts full-year outlook

(Reuters) - Chipmaker Intel Corp forecast current-quarter revenue below analysts' estimates and cut full-year outlook on Thursday, sparking worries that an industry-wide slowdown could persist until the end of 2019, sending shares down 7 percent.

The Santa Clara, California-based chipmaker said it expects revenue and profit of $15.6 billion and 89 cents per share for its second quarter that ends in June, compared with analysts' expectation of $16.85 billion and $1.01 per share.

The company lowered its 2019 revenue forecast to $69 billion, from the $71.5 billion it told investors to expect when it last reported earnings in January.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Sriraj Kalluvila)

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

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