Intel forecasts first-quarter below estimates

Intel Corp forecast first-quarter revenue and profit below analysts' estimates on Thursday, adding to concerns of an industry-wide slowdown sparked by the U.S.-China trade war. The company forecast current-quarter revenue of $16 billion and adjusted earnings 87 cents per share.

Analysts on average were expecting revenue of $17.35 billion and a profit of $1.01 per share, according to IBES data from Refinitiv. The company reported net income of $5.20 billion, or $1.12 per share, for the fourth-quarter ended Dec. 29, from a loss of $687 million, or 15 cents per share, a year earlier. (https://bit.ly/2FN4ac0)

Net revenue rose to $18.66 billion from $17.05 billion, but missed estimates of $19.01 billion. Excluding items, the company earned $1.28 per share, above estimates of $1.22. (Reporting by Sonam Rai in Bengaluru and and Stephen Nellis in San Francisco;)