Intel Raises Revenue Forecast by U.S. $200 Million
Dec 5, 2003
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Intel Corp. (Santa Clara, CA, U.S.), the world’s largest semiconductor maker, has raised the mid-point of its revenue range forecast for the key fourth quarter by U.S. $200 million, citing strong sales of microprocessors.
Revenue is now forecast at between $8.5 billion and $8.7 billion. Intel had previously forecast fourth-quarter revenue of $8.1 billion to $8.7 billion, up from $7.16 billion a year earlier.
Analysts, on average, were expecting Intel to post revenue of $8.55 billion, in a range of $8.4 billion and $8.98 billion, and earnings per share of $0.29, nearly double the $0.16 per share posted a year ago, according to Reuters Research, a unit of Reuters Group Plc.
The company said it is seeing solid seasonal growth in its microprocessor business, which represents about 80 percent of its revenue, while demand for communications products remains on track with company expectations.
Intel expects to take a goodwill impairment charge during the quarter related to its wireless communications and computing group, whose growth projections are not as high as previously expected, the company said.
The net earnings-per-share impact of the charge and other anticipated tax-related items is $0.06 per share, Intel said. (Reuters)
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