By Noel Randewich
SAN FRANCISCO (Reuters) - Top chipmaker Intel Corp
Shaky economies in Europe and the United States and a growing consumer preference for Apple Inc's
The company also cut its revenue growth forecast for 2012 to between 3 and 5 percent, down from a prior forecast of "high single-digit growth".
Intel supplies processors for 80 percent of the world's PCs but it has yet to make significant progress in fast-growing tablets or smartphones, products that use chips based on technology from the United Kingdom's ARM Holdings
"The seasonal growth that Intel is expecting is less than normal. That is clearly taking into account global macro conditions," said Doug Freedman, an analyst at RBC. "Normal seasonal PC demand would show Q3 growth of at least 9 to 10 percent and Intel's guidance is comfortably below that."
The world's leading chipmaker said revenue in the second quarter was $13.5 billion, up from $13.03 billion in the year-ago period and lower than the $13.56 billion expected.
Intel said revenue in the current quarter would be $14.3 billion, plus or minus $500 million. Analysts on average had expected $14.60 billion, according to Thomson Reuters I/B/E/S.
GAAP net income in the second quarter was $2.8 billion, down from $2.95 billion in the year-ago period.
GAAP earnings per share were 54 cents.
Shares of Intel fell 1.5 percent in extended trade and then edged higher, after closing up 0.99 percent at $25.38 on Nasdaq.
(Reporting by Noel Randewich, additional reporting by Alistair Barr; Editing by Richard Chang)
