Intel Corp. said that earnings and revenues were largely flat in the third quarter, though the earnings figure beat Wall Street's estimates for the period
For the quarter ended Sept. 28, Intel reported net income of $2.95 billion, or 58 cents per share, compared to net income of $2.97 billion, or 58 cents per share, for the same period last year Revenue was largely flat at $13.5 billion
Analysts were expecting net income of 53 cents per share on revenue of $13.5 billion for the quarter, according to consensus estimates from FactSet
Intel forecast below target; spending plan trimmed
For the December period, Intel said it expects revenue of $13.7 billion, plus or minus $500 million
Analysts were expecting revenue of $14 billion for the period
Gross margins are expected to come in around 61%, plus or minus a couple percentage points Intel trimmed projected capital spending for the full 2013 fiscal year to $10.8 billion compared to the $11 billion forecast it gave back in July
