Transcripts

Intel's Good Earnings News Isn't All Good

PAUL KANGAS: A mixed bag of results from Intel after the closing bell. While the world`s largest maker of computer chips beat the Street with its third quarter results, its profits plunged 35 percent. Intel earned $0.22 a share, $0.04 ahead of analyst estimates, but a dime below year ago levels. The results include a $100 million gain on an investment in Micron Technology. Revenues were also down sharply in the quarter, falling to $8.75 billion, as the chipmaker faced increased competition from rival Advanced Micro Devices. Chief financial officer Andy Bryant says Intel is well positioned for the current quarter and beyond.

ANDY BRYANT, CHIEF FINANCIAL OFFICER, INTEL: Well, it has been basically documented through the last three quarters that the market has been a little weaker, intense price pressure. We lost some market segment share. So it has been a tough prior periods. I look at the third quarter and say it`s finally turning around.