SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Intel Corp. (INTC) on Thursday reported a loss of $1.61 billion in its second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 38 cents. Earnings, adjusted for one-time gains and costs, came to 2 cents per share.
The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The world's largest chipmaker posted revenue of $12.83 billion in the period, also missing Street forecasts. Twelve analysts surveyed by Zacks expected $12.92 billion.
For the current quarter ending in September, Intel expects its per-share loss to be 3 cents.
The company said it expects revenue in the range of $12.5 billion to $13.5 billion for the fiscal third quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTC at https://www.zacks.com/ap/INTC
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