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

According to MSX.COM data, Intel's U.S. stock fell nearly 26% after the market opened. The company's third-quarter revenue was $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, and gross margin is expected to drop to 38%, below the third quarter's 44.1%, with the profit outlook triggering market concerns.