Intel cuts annual revenue forecast for second time this year
In this article:
Oct 27 (Reuters) - Chipmaker Intel Corp on Thursday cut its 2022 revenue forecast for the second time this year as a slump in PC demand looks set to worsen and recession fears muddy the outlook for the data center market.
The company now expects annual revenue of about $63 billion to $64 billion, compared with $65 billion to $68 billion estimated earlier. Its original forecast was for about $76 billion.
Analysts on average expect annual revenue of $65.26 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Devika Syamnath)
