January 7, 2009
Intel Provides Gloomy Q4 Outlook
By Matthew L. Brown
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.
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