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Intel fiscal Q3 profit falls YOY

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Intel fiscal Q3 profit falls YOY

Intel Corp. said its normalized net income for the fiscal third quarter ended Sept. 26 amounted to 53 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS decreased 6.2% year over year from 56 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.56 billion, a decline of 9.4% from $2.83 billion in the year-earlier period.

The normalized profit margin dropped to 17.7% from 19.4% in the year-earlier period.

Total revenue came to $14.46 billion, compared with $14.55 billion in the prior-year period, and total operating expenses rose from the prior-year period to $10.26 billion from $9.99 billion.

Reported net income declined 6.3% from the prior-year period to $3.12 billion, or 64 cents per share, from $3.33 billion, or 66 cents per share.