Menu
Intel lowers Q1 revenue outlook, citing sluggish PC sales

Intel lowers Q1 revenue outlook, citing sluggish PC sales

Intel also blamed macroeconomic and currency conditions in Europe for the revised forecast

Intel lowered its revenue outlook for the first quarter and now expects to bring in about $US12.8 billion, down from its previous forecast of about $US13.7 billion.

Intel attributed the nearly $US1 billion downward revision to sluggish sales of business desktop PCs and lowered inventory levels across the PC supply chain. In particular, the "refresh rate" at which small and medium-size businesses are replacing Windows XP computers with newer ones has been slower than expected. Microsoft stopped supporting Windows XP last April.

Intel also cited "challenging" macroeconomic and currency conditions, particularly in Europe, for the revised outlook. Intel will update other financial expectations on April 14 when it reports first quarter earnings, but for now those prior expectations should be disregarded since they "have been withdrawn," the company said.

On the bright side, the company said its crucial data center business is meeting expectations.

The stock was down about 3 per cent on the Nasdaq exchange shortly after 10am U.S. Eastern Time.

Fred O'Connor writes about IT careers and health IT for The IDG News Service. Follow Fred on Twitter at @fredjoconnor. Fred's e-mail address is fred_o'connor@idg.com


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesintelprocessorsComponents

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Show Comments