Intel fails to raise expectations

05/12/2003 - 15:56:47
Intel had been expected to raise its expectations in a mid-quarter report, encouraged by a strong revival in the US economy.

But it failed to do so, and admitted that future results would be weighted by a $600m (€494.97m) charge related to its mobile-phone chip business.

The company said it expected revenue for the final quarter of the year to be between $8.5bn (€7.01bn) and $8.7bn, compared with the previous forecast of $8.1-8.7 bn.

Analysts had been hoping for an increase in the upper end of the range.

The world's No.1 chipmaker as a result saw its share price fall today by 3.43% in early trading on Wallstreet's Nasdaq exchange.