Intel opens down nearly 26%, Q4 profit guidance misses expectations

According to MSX.COM data, Intel fell nearly 26% after the U.S. market opened. The company reported third-quarter revenue of $16.5 billion, up 21% year-over-year, with non-GAAP earnings per share of $0.52. However, the company expects fourth-quarter non-GAAP earnings per share of only $0.25, with gross margin projected to drop to 38%, down from 44.1% in the third quarter, and the profit outlook has raised market concerns.