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Turnover and profit stagnation at chip giant Intel is disappointing | Financial

Second quarter revenue was $19.6 billion, a slight decrease from the same period last year. Profits fell 1% to $5.1 billion, mainly due to a sharp increase in research and development costs.

Intel forecasts third-quarter revenue of $19.1 billion. The average for the current quarter was expected to be $18.1 billion. The chip company has further revised its full-year revenue forecast slightly upwards from $77 billion to $77.7 billion.

In after-hours trading, investors reacted lukewarm to Intel’s results and forecast. The stock had to lose ground.

Turnover and profit stagnation at chip giant Intel is disappointing | Financial
Source link Turnover and profit stagnation at chip giant Intel is disappointing | Financial

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