Intel’s data centre revenue from enterprise and government customers took a major hit in the third quarter, dropping by 47 percent year on year.
Chipzilla was swift to blame the coronavirus claiming it also hurt its IoT and memory businesses, but Wall Street was not believing these dog ate my homework excuses, as the company’s stock price dropped by more than nine percent in after hours trading Thursday.
Intel said that despite a per cent decline, its $18.3 billion in third-quarter revenue was above guidance the company gave back in July — and $40 million higher than Wall street’s expectations. The company’s earnings per share of $1.11 was in line with what analysts were looking for.