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Intel beats views despite declines.
(From AFX Europe (Focus))
NEW YORK (AFX) -
After a couple of lackluster quarters, Intel Corp.'s results have bottomed out and should improve in the fourth quarter and next year, according to its chief financial officer.
The world's largest chip maker Tuesday reported a 35 percent decline in third-quarter profits and a 12 percent decline in revenue, but beat Wall Street's expectations and shipped record numbers of chips for mobile devices and computer servers.
"We lost market share and were under price pressure," CFO Andy Bryant said in a phone interview with The Associated Press after the earnings were released. "We still have to live with tough year-over-year comparisons …
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