Here are 200 words from Intel's Q3 earnings conference call:
Quotes are from the CCBN StreetEvents transcript:
Revenue of $8.5 billion was up 5% from the second quarter, at the lower end of the pattern typical for this period. Compared to … 2003, revenue was up 8%.
Microprocessor revenue of $5.9 billion grew 3% sequentially and 3.7% year to year.
Revenue in the Intel Communications Group was $1.3 billion, up 4% from the second quarter, and 36% higher than a year ago. Nearly all of the sequential growth came from flash memory and wireless connectivity products.
Gross margin was 55.7%, just below our revised September forecast of 58%... The difference was in part a function of revenue mix. Demand for microprocessors was lower than we anticipated in September.
…operating income … was … up 3% from … a year ago.
Operating income [from microprocessors] is flat sequentially and down 4% year to year. The communications businesses … losses doubled from the second quarter.
Inventories were lower than the second quarter by $43 million or 1%…still higher than we would like ...
We expect revenue in the fourth quarter to be between 8.6 and $9.2 billion… the mid point of the forecast revenue range would represent growth of 2% [year over year].