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Intel stock plunges 10% after earnings show bigger sales drop than expected – MarketWatch

Intel profit drops more than 28%, revenue declines more than 4% and misses expectations as server sales dive 7%

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Intel Corp. revenue sank more than expected in the third quarter as the companys sales of server chips suffered, sending shares down 10% in after-hours trading Thursday.Intel
INTC,
+0.74%
reported a decline in profit and revenue from the previous year, while slightly raising its full-year forecast but missing expectations for its fourth-quarter sales outlook. Shares dropped to less than $49 in after-hours action immediately following the report, after closing the regular session with a 0.8% gain…

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