Intel Posts Disappointing Third Quarter Results, Spends Money to Cheer Up
Intel, the largest chip maker in all the known galaxies, announced third-quarter revenue will be below what the company was initially expecting. The Santa Clara chip maker now says it will likely pull in $11 billion in revenue (plus or minus $200 million, which to Intel is like loose change in the pocket), compared to the previous expectation of up to $12 billion.
But don't go worrying yourself over the state of Intel's business. Despite missing the mark for third-quarter revenue, the company remains in strong shape. Either that, or the company is coping with disappointment the same way the rest of us do -- by going on a shopping spree.
Earlier in the month, Intel announced plans to acquire security vendor McAfee for $7.68 billion, followed by the $1.4 billion acquisition of Infineon's wireless unit. That's a little over $9 billion spent in less than 30 days, which puts a slightly disappointing third-quarter into perspective.
Going forward, Intel could be in a for a somewhat bumpy financial ride. The chip maker disclosed to investors several "risk factors," including the potential impact of "adverse economic, social, political, and physical/infrastructure conditions in countries where Intel, its customers or its suppliers operating, including military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns, and fluctuations in currency exchange rates." That was just one of 10 potential risks Intel recently laid out.
But don't go worrying yourself over the state of Intel's business. Despite missing the mark for third-quarter revenue, the company remains in strong shape. Either that, or the company is coping with disappointment the same way the rest of us do -- by going on a shopping spree.
Earlier in the month, Intel announced plans to acquire security vendor McAfee for $7.68 billion, followed by the $1.4 billion acquisition of Infineon's wireless unit. That's a little over $9 billion spent in less than 30 days, which puts a slightly disappointing third-quarter into perspective.
Going forward, Intel could be in a for a somewhat bumpy financial ride. The chip maker disclosed to investors several "risk factors," including the potential impact of "adverse economic, social, political, and physical/infrastructure conditions in countries where Intel, its customers or its suppliers operating, including military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns, and fluctuations in currency exchange rates." That was just one of 10 potential risks Intel recently laid out.
