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Intel Profits Decline 0.7%

|Includes:ARMH, Intel Corporation (INTC)

Originally published at www.seclive.com

Filing in Focus: Intel 8-K, October 15, 2013

Intel Corporation (NASDAQ:INTC) announced its third quarter financial results for the fiscal year 2013, reporting earnings that declined 0.7%. The company's relatively flat performance was further demonstrated in its 0.2% increase in revenue to $13.48B. Intel exceeded its own expectations on gross margin, reporting 62.4% for the quarter above its 61% estimate. Earnings this quarter were down from $2.97B to $2.95B while earnings per share remained flat at $0.58, beating analyst estimates of $0.53 per share. Intel is estimating its fourth quarter revenues to be around $13.7B with a 61% margin. Intel, whose products service computers and servers, has been struggling recently as consumers are directing their money towards tablets and smartphones powered by chips produced by ARM Holdings (NASDAQ:ARMH).

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: INTC, ARMH