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Intel's profit and revenue down in Q3
Intel’s revenue and fell during the third quarter compared to the same time last year, the company’s forecast did little to inspire hope of a recovery.
The company's third quarter profit was 2.97 billion USD, down from 3.47 billion USD reported in the same quarter last year. Intel’s revenue also took a fall, ending up at 13.5 billion USD, down from 14.2 billion USD in the same period last year.
“Our third-quarter results reflected a continuing tough economic environment," said Paul Otellini, Intel president and CEO.
The company estimated a similar result for the fourth quarter, with revenue expected to be 13.6 billion USD, plus or minus 500 million USD. Gross profit margins are however expected to shrink further in the fourth quarter.
