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@ 2015/04/16Intel had no good or bad surprises for the cocaine nose jobs of Wall Street yesterday and the thought is that things could have been a lot worse.
However it did indicate that it would be cutting capital expenditure this year.
Wall Street had expected things to be bad. Intel hit the drastically lower revenue forecast it offered for itself last month, but investors breathed a sigh of relief that the company, which is struggling with shrinking demand for PCs, did not have any more bad news.
Intel forecast current quarter revenue of $13.2 billion, plus or minus $500 million, based on expectations of stronger demand for its personal computer chips and continued strength in its data centre business. Analysts were expecting $13.51 billion.
For the full year, Intel forecast flat revenue, also in line with Wall Street’s estimates.
Intel said it would cut 2015 capital expenditures to $8.7 billion from $10 billion, a reduction that analysts said should improve free cash flow.
Intel reported revenue of $12.8 billion for the first quarter, ended March 28, flat compared to a year ago and slightly below analysts’ average estimate of $12.9 billion.
However it did indicate that it would be cutting capital expenditure this year.
Wall Street had expected things to be bad. Intel hit the drastically lower revenue forecast it offered for itself last month, but investors breathed a sigh of relief that the company, which is struggling with shrinking demand for PCs, did not have any more bad news.
Intel forecast current quarter revenue of $13.2 billion, plus or minus $500 million, based on expectations of stronger demand for its personal computer chips and continued strength in its data centre business. Analysts were expecting $13.51 billion.
For the full year, Intel forecast flat revenue, also in line with Wall Street’s estimates.
Intel said it would cut 2015 capital expenditures to $8.7 billion from $10 billion, a reduction that analysts said should improve free cash flow.
Intel reported revenue of $12.8 billion for the first quarter, ended March 28, flat compared to a year ago and slightly below analysts’ average estimate of $12.9 billion.
