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Intel CFO Says Comfortable With Revenue Forecast

Reuters
Tuesday, 12 Aug 2008 | 1:58 PM ET

Intel, the world's biggest computer chipmaker, is comfortable with its forecast for revenue in the current third quarter, its chief financial officer said on Tuesday.

Asked if he were comfortable with Intel's forecast for third-quarter revenue of $10.0 to $10.6 billion, CFO Stacy Smith told Reuters: "Of course I'm still comfortable with it. It's still my forecast."

Analysts currently expect the company to have third-quarter revenue of $10.3 billion, according to Reuters Estimates.

"It's a very uncertain macro environment," Smith said in an interview. "It's not true just in the United States, it's true in Europe in terms of slowing growth. That being said, what we've seen in the last nine months is our business being pretty normal."

Smith also said that demand for its low-power, low-cost chip called Atom is off to a good start. It's designed to go into super-slimmed-down notebook PCs, consumer electronics devices and embedded markets such as set-top cable boxes.

"Atom is off to a very, very rapid start, far exceeding our expectations when we started the year," Smith said. "It's the perfect recession product to have in the marketplace."

Smith also said that, despite economic uncertainty in markets around the world, Intel's own business continues to hold up well.

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