Intel Sees Fourth-Quarter Revenue Below Prior Expectations

Updated from 4:35 p.m. ET

Intel(INTC Quote) warned after the market closed that fourth-quarter revenue would fall short of its prior expectations, primarily because of slowing PC demand.

The chipmaker now expects revenue to be flat with the third quarter "plus or minus a couple of percentage points." The company had expected revenue to rise 4% to 8% from the third quarter.

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Intel reported third-quarter revenue of $8.7 billion. Analysts were looking for revenue of $9.26 billion for the fourth quarter.

Analysts expect the company to earn 42 cents a share for the fourth quarter, according to First Call/Thomson Finanical . The chipmaker earned 35 cents in the year-ago period.

Despite its warning, Intel in after-hours trading was changing hands at $32.50 a share after finishing regular trading Thursday at $32.31.