Intel's results beat estimates; forecast disappoints

Intel's results beat estimates; forecast disappoints
 

Intel Corp reported better-than-expected quarterly earnings and revenue, boosted by improving PC demand and growth in its data centre and cloud businesses, but its revenue forecast for the current quarter disappointed Wall Street.
The world's largest chipmaker's shares were down 5.3 percent at $35.75 in after-hours trading on Tuesday.
Intel said it expects fourth-quarter revenue of $15.7 billion(£12.76 billion), plus or minus $500 million. Analysts on average were expecting $15.86 billion, according to Thomson Reuters I/B/E/S.
"This is below the average seasonal increase for the fourth... read more

 
19 October 2016 in Business, Views: 49
Source: Reuters
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