Intel handily beat Wall Street estimates on revenue and earnings per share in its third quarter report, but profit slid 6 percent from a year ago.
The Santa Clara chip giant reported third quarter revenue of $14.5 billion, and earnings per share of 64 cents. The consensus of analysts polled by Thomson Reuters before the earnings were released was $14.22 billion and 59 cents a share.
We executed well in the third quarter and delivered solid results in a challenging economic environment, Intel CEO Brian Krzanich said in a news release.
Krzanich sales of Intel s new 6th Gen Core processor had been greeted enthusiastically by customers.
Earnings were flat over the year while profit of $3.1 billion dropped 6 percent from $3.3 billion in the same quarter in 2014.
Revenue was up 10 percent from the previous quarter s $13.2 billion, and profit was up 15 percent from the second quarter.
The largest segment of Intel s business, the client computing group, had revenue of $8.5 billion, up 13 percent from the second quarter but down 7 percent from a year earlier.
The Data Center Group was up 12 percent from a year ago with $4.1 billion in sales and up 8 percent from the second quarter.
The Internet of Things group had $581 million in sales, up 10 percent from a year ago, and software and services were flat from a year ago with sales of $556 million.
Photo: Intel headquarters (Courtesy of Intel)
The post Intel Q3 earnings beat estimates, profit slides appeared first on SiliconBeat.
