CALIFORNIA: The Santa, Clara, California, company has been hurt by slowing sales of personal computers that use its chips. In April, the company said it would cut 12,000 jobs as it reorganizes its business. Intel has been trying to grow other segments, such as its data center management unit.
On Friday, Intel said it now expects third-quarter revenue of $15.6 billion, plus or minus $300 million. It previously expected revenue of $14.9 billion, plus or minus $500 million. Wall Street analysts expected revenue of $14.9 billion, according to FactSet. Shares of Intel Corp. rose 76 cents, or 2.1 percent, to $37.33 in morning trading Friday.
