Intel revenue continues slide on falling PC sales

Intel Corp forecast June-quarter revenue in line with expectations as the personal computer industry grapples with falling sales and a shift toward tablets and smartphones.

Intel said its first-quarter revenue was US$12.58 billion, down from US$12.91 billion in the year-ago quarter.

The world's largest chipmaker forecast June-quarter revenue of US$12.9 billion, plus or minus US$500 million.

Analysts had expected US$12.588 billion in revenue for the first quarter and US$12.854 billion for the June quarter, according to Thomson Reuters I/B/E/S.

Intel posted first-quarter net income of US$2.04 billion, or 40 cents a share, down from US$2.74 billion, or 55 cents a share, in the year-ago period. Analysts on average had expected 41 US cents per share. (Reporting by Noel Randewich; Editing by Phil Berlowitz and Richard Chang)