Intel (INTC) expects Q4 revenue of $13.7B (+/- $500M) vs. a consensus of $14.02B. The company's 2013 capex guidance has been lowered again, this time to $10.8B (+/- $300M) from $11B (+/- $500M).
Q4 guidance is said to reflect the caution Intel is seeing in customer order patterns, as well as their efforts to "keep inventory levels lean."
Q3 gross margin was 62.4%, +410 bps and -90 bps Y/Y, and above a guidance midpoint of 61%. Gross margin is expected to come in at 61% (+/- 2%) in Q4.
PC CPU division sales +4% Q/Q and -3% Y/Y to $8.4B. ASPs flat Q/Q and +1% Y/Y.
Server CPU division sales were healthy, +6% Q/Q and +12% Y/Y to $2.9B. ASPs +2% Q/Q and +8% Y/Y.
Other Intel architecture (inc. Atom) +13% Q/Q and -9% Y/Y to $1.1B. Software/services +2% Q/Q and +6% Y/Y.
$500M spent on buybacks, down from $550M in Q2.