Sections

Profits and sales fall for Intel

Sales drop 14% in third quarter

Intel has suffered a decline in sales and profits for the third quarter, due to what it calls a "tough economic environment."

For the three months ended September 29, profits were down 14 per cent to $2.97 billion and sales down 5.5 per cent to $13.46 billion.

"Our third-quarter results reflected a continuing tough economic environment," said Paul Otellini, Intel president and CEO.

"The world of computing is in the midst of a period of breakthrough innovation and creativity. As we look to the fourth quarter, we're pleased with the continued progress in Ultrabooks and phones and excited about the range of Intel-based tablets coming to market."

For the fourth quarter Intel expects revenues of around $13.6 billion.

Related stories

Tencent set to unveil new cloud gaming service

Tencent Instant Play to bring cloud gaming to PC and Android, overview with Intel planned for GDC

By Rebekah Valentine

Intel CEO resigns over breach of "non-fraternisation" policy

Brian Krzanich steps down after five years with tech giant

By Haydn Taylor

Latest comments

Sign in to contribute

Need an account? Register now.