Intel forecasts second-quarter revenue below estimates

By Thomson Reuters Apr 25, 2024 | 3:07 PM

(Reuters) – Intel forecast second-quarter revenue below market estimates on Thursday, as it faces weak demand for its traditional data center and personal computer chips amid efforts to build its contract manufacturing business.

The Santa Clara, California-based company expects second-quarter revenue in the range of $12.5 billion to $13.5 billion, compared with analysts’ average estimate of $13.57 billion, according to LSEG data.

(This story has been refiled to add the missing dollar symbol in paragraph 2)

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi Majumdar)