SAN FRANCISCO (Reuters) - Chipmaker Advanced Micro Devices on Thursday warned fourth-quarter revenue would be much weaker than expected due to sluggish demand, particularly among consumers.
AMD expects revenue from continuing operations for the fourth quarter ending December 27 to decline 25 percent from the third quarter to roughly $1.19 billion.
The average analyst fourth-quarter revenue estimate is $1.52 billion, according to Reuters Estimates.
AMD previously forecast fourth-quarter revenue to be flat when compared with the third quarter.
Chipmakers are starting to feel the fallout from the global economic slowdown, as businesses cut costs and lower technology spending, and consumers decide to hold off on new purchases.
At an analyst meeting in November, AMD stood by its financial forecast, even as main rival Intel Corp
Shares of the Sunnyvale, California-based AMD fell 4 cents to $2.16 in late morning trading.
(Reporting by Gabriel Madway; Editing by Derek Caney)
