SAN JOSE -- Intel Corp. narrowed its first-quarter revenue estimates Thursday, saying demand for computer microprocessors has been stronger than expected while sales of its flash memory chips have been weaker than anticipated.
The Santa Clara-based semiconductor giant said its first-quarter revenue will be between $6.6 billion and $6.8 billion, compared with earlier estimates of $6.5 billion to $7 billion. The company does not provide net earnings forecasts.
Analysts expect Intel to post a profit of 12 cents per share on sales of $6.75 billion, according to a survey by Thomson First Call. The company's first quarter ends March 29.
Andy Bryant, Intel's chief financial officer, said business has remained steady and in line with seasonal patterns.
After the update, Intel shares lost 67 cents in extended-session trading. Earlier, they had closed at $16.70, down 28 cents, in Thursday trading.
Though the processor business was performing better than expected, it was following typically lackluster seasonal patterns. Intel's smaller communications chip unit was not meeting expectations due to lower sales of flash memory, typically used in cell phones. In December, Intel said it was raising the prices of flash as much as 40 percent, effective Jan. 1. Bryant said the price increase had a greater impact on volume than anticipated.<
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