Technology
Intel's data-centre CPUs outperform, but a PC slump sinks the outlook
Intel's third-quarter revenue rose 21% to $16.5bn and adjusted earnings of $0.52 a share beat forecasts, yet the stock fell more than 20% after hours when the company guided fourth-quarter revenue to $15-16bn against roughly $17bn expected and gross margin down to 38%. PC chip sales of $8.1bn missed an $8.8bn target as device demand weakened, while data-centre sales topped $7.3bn and foundry revenue rose 58% to $6.7bn. An explosion at an Israeli plant is expected to cost about $300m of fourth-quarter sales.