How much did Intel’s Q3 profit fall compared with last year?

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Intel’s Third-Quarter Profit Declined by 29 Per Cent Year-on-Year

Intel reported a 29 per cent decrease in its third-quarter profits, amounting to US$4.3 billion (RM17.8 billion). This decline in earnings accompanied a four per cent reduction in overall revenue, which fell to US$18.3 billion for the period. In response to these financial results, Intel's shares experienced a significant drop of approximately 10 per cent in after-hours trading.
Profit and Revenue Figures

The company's financial statements for the third quarter revealed a stark year-on-year profit reduction. Profits were US$4.3 billion, a substantial decrease from the previous year's comparable period. Revenue also saw a downturn, declining by four per cent to US$18.3 billion.
Market Reaction to Financial Results

The announcement of Intel's third-quarter performance triggered a negative market reaction. Following the release of the financial figures, Intel's stock price fell by around 10 per cent in after-hours trading. This share price movement indicates investor concern over the reported sales figures.
Performance Across Business Segments

While overall profits and revenue declined, the company noted varied performance across its business segments. Intel experienced strong sales within the personal computer market, a trend that benefited from the ongoing pandemic. However, this was counterbalanced by weakness observed in its data center and internet of things operations, as well as its enterprise and memory business segments.
Outlook and Future Developments

Despite the quarterly dip, Intel's chief executive, Bob Swan, expressed an optimistic outlook. He stated that the nine-month performance for 2020 was expected to lead to growth and another record year. The company also indicated ongoing work on new products in areas such as 5G wireless and autonomous driving systems, with its Mobileye autonomous vehicle unit showing a return to growth in the third quarter.

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How much did Intel’s Q3 profit fall compared with last year?

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