Intel Corp, the world’s largest semiconductor maker, has announced its third-quarter earnings of US$13.5bn, down 5pc from a year ago.
The company has reported that PC and data centre platform average selling prices were down 2pc. Intel has cited a reduction of microprocessor inventory levels across the worldwide PC supply chain when compared to the second quarter. It said customers are remaining cautious as a result of macroeconomic uncertainty and ahead of the Windows 8 operating system release.
In its quarter 3 results, Intel reported quarterly revenue of US$13.5bn, operating income of US$3.8bn and net income of US$3bn.
The company said it had generated circa US$5.1bn in cash from operations, paid dividends of US$1.1bn and used US$1.2bn to repurchase stock.
"Our third-quarter results reflected a continuing tough economic environment," said Intel president and CEO Paul Otellini.
"The world of computing is in the midst of a period of breakthrough innovation and creativity. As we look to the fourth quarter, we’re pleased with the continued progress in ultrabooks and phones and excited about the range of Intel-based tablets coming to market."
Intel is projecting that its quarter 4 revenue will be US$13.6bn, plus or minus US$500m.
According to reports, the company is set to slow down production at its factories as a result of falling orders from PC makers.