Intel Corp forecast current-quarter profit and revenue above estimates and raise...
- Intel Corp forecast current-quarter profit and revenue above estimates and raised its full-year revenue forecast on Thursday, allaying concerns about a global semiconductor sales slowdown and curbs on U.S. sales to Huawei Technologies Co Ltd.
Intel’s Chief Financial Officer George Davis told Reuters it had resumed some product sales to Huawei that comply with U.S. regulations, and that tariff threats between the United States and China actually helped second-quarter sales. But it was the company’s forecast that drove up shares, with revenue and profit expected to be $18 billion and $1.24 per share for the third quarter, above analysts’ estimate of $17.72 billion and $1.16 per share.
Davis told Reuters the payment was all cash. Intel will retain the rights to make non-smartphone modems for self-driving cars and PCs under the deal.
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