Updated from 5:32 p.m. EDT
dropped in extended trading after the chipmaker revealed that revenue for the fourth quarter could fall short of analysts' expectations.
The company's third-quarter earnings met Wall Street's consensus estimate, but the bottom line fell sharply from the same period a year ago. Intel said income, before charges, totaled $655 million, or 10 cents a share, down from $2.89 billion, or 43 cents a share, a year ago. Sales slid to $6.5 billion from $8.7 billion. The company also forecast fourth-quarter sales of $6.2 billion to $6.8 billion, the same range it has projected for the past two quarters. Analysts are looking for the high end of that estimate. Intel slipped 0.2% to $24.92 after the bell.
said its earnings totaled $1.6 billion, or 90 cents a share, a penny ahead of the consensus estimate, in the third quarter. The company posted income of $2.0 billion, or $1.08 a share, in the year-ago quarter. Sales dropped to $20.4 billion from $21.78 billion last year, but shares of IBM were up 3.5% to $105.45.
Volume was heavy as traders had plenty of corporate news to digest after the bell. Almost 9.8 million shares changed hands on Instinet, with the top 20 movers accounting for about two-thirds of the volume.
RF Micro Devices
was off 5.8% to $23 after the company said it earned $1.5 million, or a penny a share, in the second fiscal quarter. Analysts were expecting the company to break even. The company earned $17.7 million, or 10 cents a share, in the year-ago quarter. RF Micro also projected earnings of 1 cent to 2 cents a share in the third quarter, before charges.Wall Street is expecting 2 cents.
said it lost $55.3 million, or 13 cents a share, before charges, in the third quarter. The loss was in line with the consensus estimate, but was wider than the $30.6 million, or 7 cents a share, in the year-ago period. Shares of i2 were falling 10.4% to $5.10 in the extended session.
surprised Wall Street with earnings of $51 million, or 12 cents a share, a penny ahead of the consensus estimate. In the year-ago period, earnings totaled $70 million, or 16 cents a share. Revenue increased to $340 million from $317 million in the year-earlier period. Veritas gained 3.6% to $30.50.
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