The company’s shares, which have been subjected to major turmoil in recent months, rose by about 10 percent during after-hours trading in the United States.
And I expected Intel Revenues ranged between $13.3 billion and $14.3 billion for the current fiscal quarter, while analysts had expected an average of $13.6 billion.
Intel’s revenues fell by 6 percent year-on-year to reach $13.3 billion in the last fiscal quarter.
Intel registered losses $16.6 billion in the last quarter due to costs related to the company’s ongoing restructuring. Last year, Intel reported profits of $300 million.
Pat Gelzinger, CEO of Intel, said: “The results of the third fiscal quarter confirm the good progress we are making under the plan we established last fiscal quarter to reduce costs, simplify our portfolio, and improve organizational efficiency.”
Intel CFO David Zinsner added: “Restructuring costs significantly impacted profitability in the third fiscal quarter as we took significant steps toward our cost reduction goal. The actions we took this quarter position us to achieve better profitability and increased liquidity as we continue to execute our strategy.”
