Intel Down Slightly After Q3 Results

Leading global semiconductor manufacturer Intel INTC released its third-quarter earnings results after the closing bell on Tuesday. The company reported net income of $2.97 billion or $0.58 per share, compared to $3.47 billion or $0.56 per share, in the year earlier period. On a non-GAAP basis, Intel's net income was $3.12 billion or $0.60 per share, versus $3.63 billion or $0.68 per share, last year. This compared to analysts' consensus EPS estimates of $0.50. Net revenues fell to $13.46 billion from $14.23 billion last year. This also exceeded Wall Street consensus estimates of $13.23 billion. Looking ahead to the fourth-quarter, Intel said that it expects revenues of $13.6 billion, plus or minus $500 million. This compares to current consensus revenue estimates of $13.78 billion for the fourth-quarter. In Tuesday's after hours trading session, INTC was last down 1.25 percent to $22.07.