UPDATE 3-Intel not updating full-year outlook due to 'economic uncertainty' [Reuters]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Reuters
Intel not updating full-year outlook due to 'economic uncertainty' (Reuters) - Intel Corp ( INTC.O ) on Thursday forecast second-quarter earnings below Wall Street views as it cited the cost of readying a new PC chip and said it would not update its full-year forecast because of “significant economic uncertainty” amid the coronavirus pandemic. Intel’s shares fell 6% in extended trading, even as Intel reported that demand for its processor chips surged in the first quarter as consumers and businesses bought computers and built out data centers to handle working from home. “We continue to assess how COVID-19 impacts to the economy will offset the immediate catalysts for more remote work,” Chief Executive Bob Swan said on a conference call with investors, saying Intel would adjust its production plans accordingly. The COVID-19 pandemic has ripped through the semiconductor industry, disrupting operations as lockdown orders hit countries in the chip supply chain such as Malaysia. Swan sa
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