Intel expects Q3 revenue below forecast midpoint

Intel Corp. expects its revenue for the third quarter to be slightly below the midpoint of the guidance it gave at the close of its second quarter, the company said Thursday.

For the third quarter, which ends Sept. 29, Intel expects revenue to be between US$6.2 billion and $6.8 billion, the company said in a statement. While its microprocessor business continues to follow seasonal patterns, its flash memory and communications businesses remain in line with the company's expectations at the beginning of the quarter, the company said. Both the flash and communications businesses were down in the second quarter.

The company expects its expenses for the third quarter to be between $2 billion and $2.1 billion, down slightly from previous expectations of between $2.1 billion and $2.2 billion, Intel said. The company also expects a $90 million net loss from equity investments, down from its previous expectations of zero, due to lower than expected gains from equity sales, the company said.

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