New York — Intel suffered a 12 percent fall off in third quarter revenue with sales falling to $8.7 billion, and while the chip maker did post a net income of $1.3 billion, this was also down from what the company posted during the same period last year.
The 35 percent drop in net income was blamed on several factors, primarily lower average selling prices for processors, but company executives pointed to several items that should boost the company in the coming months. This includes shipping its first quad-core processors and eliminating 10,000 jobs through cuts and attrition.
To support this claim, Intel pointed to the healthy numbers it posted when compared to the second quarter. Using that parameter sales were up 9 percent and net income a very healthy 47 percent.