Intel Reports Lower Third-quarter Earnings

Intel Corp. late Tuesday reported its third-quarter earnings fell to $3.1 billion, or 64 cents a share, from $3.3 billion, or 66 cents a share, a year ago. Analysts surveyed by FactSet had forecast the big microprocessor maker to earn 59 cents a share. Revenue slipped to $14.5 billion from $14.6 billion a year earlier but came in better than analysts' average estimate of $14.22 billion. In the fourth quarter, Intel expects revenue of $14.8 billion, plus or minus $500 million, and gross margin of 62%, give or take a couple of percentage points. Intel shares wavered between small gains and losses in after-hours trading.