Intel's revenue forecast meets expectations

Intel Corp forecast June-quarter revenue in line with expectations as the personal computer industry grapples with falling sales and a shift toward tablets and smartphones.

Intel said its first-quarter revenue was USD 12.58 billion, down from USD 12.91 billion in the year-ago quarter.

The world's largest chipmaker forecast June-quarter revenue of USD 12.9 billion, plus or minus USD 500 million.

Analysts had expected USD 12.588 billion in revenue for the first quarter and USD 12.854 billion for the June quarter, according to Thomson Reuters.

Intel posted first-quarter net income of USD 2.04 billion, or 40 cents a share, down from USD 2.74 billion, or 55 cents a share, in the year-ago period. Analysts on average had expected 41 cents per share.