Chip maker Intel reported a surprise quarterly loss and cut its full-year outlook, reflecting a slump in personal-computer purchases and product delays.
Intel on Thursday said sales in the second quarter fell 22% to $15.3 billion, missing Wall Street’s expectations. It was its biggest revenue drop in more than a decade. The company blamed a rapid decline in economic activity for its sagging sales as it forecast a 10% decline in overall PC sales this year.
