Intel Corp., which has significant operations in Hudson, expects fourth quarter earnings 20 percent below the third quarter and 23 percent below the fourth quarter of 2007.
The $8.2 billion in revenue Intel expects to report is also below earnings projections the company made in November.
The Santa Clara-based computer hardware company said weak demand and inventory reductions by its customers were responsible for driving earnings down.
Intel is also facing about $1.25 billion in charges related to subsidiary stock impairment, restructuring and asset impairment charges and expects equity investment losses of between $1.1 and $1.2 billion.
The company expects to formally report its fourth quarter earnings Jan. 15.
