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Intel gives lukewarm revenue forecast; shares fall

17
Jan
2014

By Noel Randewich SAN FRANCISCO (Reuters) – Intel Corps earnings missed expectations by a penny in the fourth quarter due to weak spending on servers, and the chipmaker gave a lukewarm forecast for first-quarter revenue that did little to dispel concerns about a slowing PC industry. Intel said on Thursday it overestimated the extent of a recovery in spending among its enterprise customers, sending its stock lower, and pointed to political controversy in Washington, D.C. In the December quarter, Intels PC revenue stayed flat, which it said was slightly better than the company expected. Microsoft Corps plan to stop supporting its Windows XP operating system in April had spurred hopes that some corporations will replace employees PCs. But Intel Chief Financial Officer Stacy Smith said the Windows refresh had a minor impact on the quarter.

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