Intel withdraws 2020 forecast on 'significant' uncertainty [MSN Money]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: MSN Money
Intel Corp. withdrew its full-year sal forecast, citing “significant economic uncertainty” caused by the Covid-9 pandemic. The company’s shar fell more than 5% in late trading.© Photographer: Aaron M. SprecherThe world’s largt semiconductor maker reported a % jump in first-quarter revue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machin compani need to keep people working from home. Though it gave an optimistic second-quarter sal target, Intel’s profit outlook fell short of timat, sparking concerns that a spding slowdown will drag on busins for the rt of 00.Load ErrorSal in the currt period will be about $8.5 billion, the Santa Clara, California-based company said in astatemt“Invtors were caught off guard” by the profit forecast, Logan Purk, an analyst at Edward D. Jon & Co., said. “Wh they’re crushing it on the top line but whiffing pretty hard on the earnings, it’s a shock.”Compani have reacted to coronavirus shelter-in-place order
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