Intel Corp forecast current-quarter profit and revenue above estimates and raised its full-year revenue forecast on Thursday (Jul 25), allaying ...
REUTERS: Intel Corp forecast current-quarter profit and revenue above estimates and raised its full-year revenue forecast on Thursday , allaying concerns about a global semiconductor sales slowdown and curbs on US sales to Huawei Technologies Co Ltd.The chip industry is in a slowdown, with research firm Gartner forecasting a drop in global semiconductor revenue to 9.6 per cent to US$429 billion in 2019.
"Customers concerned about supply risk in the second half of the year related to those items pulled in some demand into the second quarter," Davis said in an interview."It isn't a net add to the full year , but it certainly de-risks some of the full year."Intel reported second-quarter revenue of US$16.5 billion and adjusted earnings of US$1.06 per share. Analysts on average had expected revenue of US$15.
Intel also said it planned to sell the majority of its modem business, including 2,200 employees and a trove of patents, to Apple Inc for US$1 billion.Davis told Reuters the payment was all cash. Intel will retain the rights to make non-smartphone modems for self-driving cars and PCs under the deal.
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