Intel Warns Revenues Below Expectations

NEW YORK (Reuters) - Leading semiconductor maker Intel Corp. on Thursday said its fourth-quarter revenue would be lower than expected because of the slowing demand for personal computers, becoming the latest technology heavyweight to warn of lower results in a softening economy.

"As a result of recent large cancellations by customers worldwide, the company now expects revenue for the fourth quarter to be flat, plus or minus a couple of percentage points, with third quarter revenue of $8.7 billion," the Santa Clara, Calif. company said in a statement issued after the close of market.

That is lower than the previous expectation that fourth quarter revenue would be up 4 to 8 percent from third quarter revenue, it said.