Intel reported third-quarter net income of $3 billion on revenue of $13.5 billion. Revenue increased 5% since the second quarter but was flat on the year-ago period. Intel expects fourth-quarter revenue of $13.7 billion.
"The third quarter came in as expected, with modest growth in a tough environment," said Intel CEO Brian Krzanich.
Intel shares closed 0.26% lower to $23.39. In after-hours trading, the stock lost 2.1% to $22.91.
TheStreet Ratings team rates Intel as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate Intel Corp (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."
- You can view the full analysis from the report here: INTC Ratings Report
Yahoo! reported third-quarter revenue had decreased 1% to $1.08 billion from $1.09 billion a year earlier.
"I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," said Yahoo! CEO Marissa Mayer in a statement.