Post I.T. - Washington Post Technology Blog Frank Ahrens Sara Goo Sam Diaz Mike Musgrove Alan Sipress Yuki Noguchi Post I.T.
Tech Podcast
The Bloggers
Subscribe to this Blog

Tech Sector Braces for Pain as Quarterly Results Roll Out

Kim Hart

Today marks the beginning of third-quarter earning season for the technology industry, with Intel releasing its latest financial figures and giving investors an indication of the potential pain that lies ahead.

Third-quarter results may not be too far off-target, some analysts say, because product sales were already on the books before the financial turmoil of the past few weeks went into full swing.

But companies in every sector are bracing for a rough fourth quarter as consumer spending is expected to plummet. Many device and gadget makers depend on holiday sales to round out their annual results. They probably won't be able to count on that this year.

Yesterday, market research firm Gartner cut its forecast for corporate tech spending in 2009 to 2.3% growth, rather than its previous estimate of a 5.8% increase.

Europe will experience a spending decline next year, while spending on technology in the U.S. and Japan will be flat, Gartner said.

By Kim Hart  |  October 14, 2008; 10:47 AM ET  | Category:  Kim Hart
Previous: Slowdown for Venture Capital World, But Not Quite a Nuclear Winter--Yet | Next: Obama Reaches Out To Gamers


Add Post I.T. to Your Site
Stay on top of the latest Post I.T. news! This easy-to-use widget is simple to add to your own Web site and will update every time there's a new installment of Post I.T.
Get This Widget >>


Blogs That Reference This Entry

TrackBack URL for this entry:
http://voices.washingtonpost.com/cgi-bin/mt/mt-tb.cgi/26120

Comments

Please email us to report offensive comments.



The comments to this entry are closed.

 
 

© 2010 The Washington Post Company