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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Intel cuts fourth quarter revenue projections AFP - 1 hour 7 minutes ago NEW YORK (AFP) - - Intel Corp. cut its fourth-quarter revenue projections on Wednesday, saying the economic slowdown would hurt its business across the board. The world's biggest computer chipmaker said that it expected revenue in the fourth quarter of between 8.7 and 9.3 billion dollars, down from the previous 10.1 billion dollars to 10.9 billion dollars. "Revenue is being affected by significantly weaker than expected demand in all geographies and market segments," the Santa Clara, California, company said in a statement. "Expectation for fourth-quarter gross margin is now 55 percent plus or minus a couple of points, lower than the previous expectation of 59 percent plus or minus a couple of points, primarily due to lower revenue and other charges associated with the weaker-than-expected demand environment," it added. Intel said spending was expected to be approximately 2.8 billion dollars in the fourth quarter, lower than the previous expectation of 2.9 billion dollars, "primarily due to lower revenue- and profit-related spending." "All other expectations are unchanged," said Intel. Analysts had expected Intel revenue of 10.36 billion dollars for the current quarter and earnings per share of 34 cents. Intel is to reports its results on January 15. Intel's share price was down 0.30 percent to 13.48 dollars in after-hours trading. Its share price has declined by more than 46 percent in the past year. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Technology Intel cuts fourth quarter revenue projectionsAFP - 1 hour 7 minutes ago US moves to crack down on Internet gamblingAFP - 1 hour 34 minutes ago Google Earth rebuilds ancient Rome onlineAFP - Thursday, November 13 IT spending to slow in 2009: IDCAFP - Thursday, November 13 Firms scan brain waves to improve ads in JapanAFP - Thursday, November 13 Enlarge Photo An employee walking past the Intel headquarters in Santa Clara, California. Intel Corp. cut its fourth-quarter revenue projections on Wednesday, saying the economic slowdown would hurt its business across the board. Most Popular – Technology Viewed Ancient 4,300-year-old pyramid discovered in Egypt Your favorite music = happy heart: study Britney Spears's son hospitalized: statement Economic gloom mounts ahead of finance crisis summit Oil price dives under 55 dollars per barrel in London View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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