Intel results continue to slide
On a quarterly sequential basis sales revenue was up 2 percent while net profit was down 2 percent.
"In my first two months as CEO, I have listened to a wide variety of views about Intel and our industry from customers, employees and my leadership team and I am more confident than ever about our opportunity as a company," said recently appointed CEO Brian Krzanich, in a statement. "We will leave no computing opportunity untapped. To embrace these opportunities, I’ve made it Intel’s highest priority to create the best products for the fast growing ultra-mobile market segment," he added.
Intel said that for the third quarter it expects to achieve sales of between $13 billion and $14 billion, which would represent a sequential growth of between 1.4 and 9.2 percent.
The company said it has reduced its forecast for full-year sales revenue growth to zero, down from a previously forecast low single digit percentage increase.
The company also announced it would reduce its full-year capital spending to $11.0 billion, plus or minus $500 million, down $1.0 billion from prior forecast.