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Intel gives low single-digit percentage revenue outlook

January 18, 2013

Earnings of the worldwide largest chip manufacturer Intel dropped 27% in Q4 on decreasing volumes in the PC business. Earnings per share were 48 cents, 3 cents higher than expected. Intel is challenged by a shift in consumer demand from PCs - most of which use Intel - to smartphones and tablets, which do not use Intel’s chips. In the full-year outlook, the chipmaker forecast, revenue to increase by a “low single-digit percentage,” in line with market expectations of a 2% gain. Intel shares dropped as much as 5.8% after markets closed in New York. During the day, shares had gained 2.6%.