Intel CFO says tariffs increase chance for economic slowdown, recession getting likelier

The Intel headquarters in Santa Clara, California, US, on Wednesday, April 23, 2025. Intel Corp. is scheduled to release earnings figures on April 24. Intel CFO David Zinsner said President Donald Trump's tariffs and retaliation from other countries has increased the likelihood of a recession. "The very fluid trade policies in the U.S. and beyond, as well as regulatory risks, have increased the chance of an economic slowdown, with the probability of a recession growing," Zinsner said on the company's quarterly earnings call on Thursday. Intel reported better-than-expected first-quarter results, partially because some customers stockpiled chips ahead of tariffs, the company said. However, guidance for revenue and profit was below expectations, pushing the chipmaker's stock down more than 5% in extended trading. Intel's forecast for the current quarter is $11.2 billion to $12.4 billion. Zinsner said the range is "wider than normal" due to uncertainty caused by tariffs. The company's ... Read full article.