Intel's profits fell by 35% to $1.3 billion in its latest quarter, on revenues that fell by 12% to $8.74 billion, as the company came under pressure from AMD. However, both numbers were above Wall Street expectations, and the company now thinks it has got through the worst of its slump. Business Week has more details.
Meanwhile, Yahoo's profits fell by 38% on revenues that grew by 19%. According to Guardian Unlimited: "Yahoo!'s net income was $159m (£85m) in the third quarter, down from $254m in the same period last year. Revenue was $1.58bn, up 19%. As AP points out: "The company's market value has plunged by 38% so far this year, wiping out $22 billion in shareholder wealth."
However, IBM's profits jumped 47% to $2.22 billion (though growth was only 15% if you discount a tax charge), on revenues that grew by 5% to $22.6 billion. Software sales climbed 8.5% to $4.41 billion following a buying binge: IBM has just spent $3.6 billion taking over software companies. Reuters and The New York Times have more details.
Apple unveils its quarterly results later today.
