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Intel cuts 2013 revenue forecast as PC industry sags

People visit the Intel booth at the 2013 Computex exhibition at the TWTC Nangang exhibition hall in Taipei June 4, 2013. REUTERS/Pichi Chuan
People visit the Intel booth at the 2013 Computex exhibition at the TWTC Nangang exhibition hall in Taipei June 4, 2013. REUTERS/Pichi Chuan

By Noel Randewich

SAN FRANCISCO (Reuters) - Intel Corp cut its full-year revenue forecast as the personal computer industry experiences slumping sales and a shift toward tablets and smartphones.

The world's top chipmaker on Wednesday posted second-quarter revenue of $12.8 billion and said revenue in the current quarter would be $13.5 billion, give or take $500 million.

Analysts expected $12.896 billion in revenue for the second quarter and $13.732 billion for the current quarter, according to Thomson Reuters I/B/E/S.

Intel said it expects 2013 revenue to be flat from the year before. Last quarter Intel forecast a low single digit percentage increase in 2013.

For the second quarter, Intel reported net earnings of $2.0 billion, or 39 cents a share, in line with expectations. That compared with $2.827 billion, or 54 cents, in the same quarter last year.

Shares of Intel fell 1.86 percent in extended trade after closing down 0.41 percent at $24.15 on the Nasdaq.

(Reporting by Noel Randewich; Editing by Steve Orlofsky)

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