Intel 3rd-qtr profit falls

On Tuesday, Intel posted a third-quarter profit that fell by more than a third from a year earlier, as the chipmaker felt the effects of price cuts and an inventory write-off.

Intel's third-quarter net profit of $1.3 billion, or 22 cents per share, compared to $2 billion, or 34 cents per share, a year earlier.

Intel, which supplies the vast majority of chips that power personal computers, gave a revenue forecast for the crucial fourth quarter that was in line with expectations, a relief for investors frustrated with bearish guidance from Intel all year.

Intel Chief Financial Officer Andy Bryant said in an interview with Reuters that he believed the world's biggest chipmaker gained market share back from its smaller rival AMD.

Intel has been struggling to restart profit growth by rolling out new products aimed at regaining market share lost to AMD and by cutting costs through layoffs and the sale of money-losing businesses.

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