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Intel forecasts 2020 revenue above estimates, shares rise

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(Reuters) – Intel Corp forecast full-year revenue above analysts’ estimates on Thursday, helped by higher sales of its chips used in data centres that power internet-based services, sending its shares up 5%.

The company expects fiscal year 2020 revenue of about $73.5 billion (56 billion pounds), compared with analysts’ average estimate of $72.25 billion, according to IBES data from Refinitiv.

(Reporting by Munsif Vengattil in Bengaluru and Stephen Nellis in San Francisco; Editing by Maju Samuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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