Intel shares plummeted in extended trading on Thursday after the chipmaker issued a weak fourth-quarter forecast, citing continued softness in the global PC market.
Here's how the company did in the third quarter, compared with estimates from analysts polled by LSEG:
Revenue climbed 21% from $13.7 billion a year earlier, the company said in a press release.
However, revenue in Intel's client computing and physical AI group fell 5% from the same quarter a year ago to $8.1 billion, missing estimates, even as data center and AI revenue jumped 78% to $7.3 billion.
Global PC shipments declined 4% in the second quarter from a year earlier due to soaring costs for memory and other components, according to Counterpoint Research.