Intel tightens revenue forecast
No news is good news
Intel today narrowed its Q3 revenue prediction and assured analysts that nothing unusual seemed to be occuring during the period.
The chipmaker now expects third quarter revenue to come in between $9.8bn and $10.0bn. That range falls in the middle of a previous, broader forecast stretching from $9.6bn to $10.2bn. Intel's third quarter ends on Oct. 1.
On occasion, Intel will really rattle investors' nerves during these mid-quarter updates. It often notes unexpected changes in demand, inventory, margins or competitive pressures. Not this time around.
"This is pretty much a non-news update," CFO Andy Bryant said during a conference call with analysts.
Bryant noted that Intel kept the same midpoint with both of its forecasts and has seen revenue come in as expected across all product lines. As has been the trend of late, notebook processor sales have driven Intel's double-digit revenue growth.
Shares of Intel moved slightly lower in after-hours trading to $25.86, at the time of this report. ®