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Thursday, 04/25/2024 5:10:53 PM

Thursday, April 25, 2024 5:10:53 PM

Post# of 151692
(Adds details on results in paragraphs 7, 12-16, adds CEO quote in paragraph 10)

By Arsheeya Bajwa and Max A. Cherney

April 25 (Reuters) - Intel forecast second-quarter revenue and profit below market estimates on Thursday, as it faces weak demand for its traditional data center and personal computer chips amid efforts to build its contract manufacturing business.

Shares of the Santa Clara, California-based company fell close to 6% in extended trading.

The company expects second-quarter revenue in the range of $12.5 billion to $13.5 billion, compared with analysts' average estimate of $13.57 billion, according to LSEG data.
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