Intel Foresees Q3 Revenue Drop and Net Loss
- Intel's estimated Q3 revenue is around $13.03 billion
- Company expected to report net loss of $955 million
Intel Corporation is gearing up to release its third-quarter earnings report. Current projections indicate a potential decrease in revenues, with the estimated revenue standing at approximately $13.03 billion. This marks an 8% drop compared to the same period in the previous year. The company is also anticipated to report a net loss of around $955 million, or 23 cents per share.
For the December quarter, semiconductor analysts suggest that Intel may report a revenue of $13.02 billion for the September quarter. The company is also expected to report an adjusted earnings-per-share loss of 2 cents. The revenue estimate for the current quarter is $13.66 billion, with earnings per share of 8 cents.
Srini Pajjuri, an analyst at Raymond James, has reiterated his Market Perform rating on Intel. He has also expressed caution regarding the company's guidance risk. This is based on recent discussions with Asian supply chain companies, which indicate that the demand for PCs from corporations may not be as strong as expected.