Intel profits fall but tech firm lifts outlook

Intel, the world's biggest computer chip maker, has revealed better than expected Q3 profits.

Intel said its net profit decreased by 5% in the third quarter of the year compared with the same period last year to $1.9bn.

This amounted to 33 cents per share, better than the 28 cents expected by Wall Street analysts.

It said revenue declined 7.8% to $9.4bn, higher than the $8.8bn to $9.2bn the company had forecast in August.

But the technology firm, which employs around 5,000 people in Ireland, delivered an upbeat forecast for the rest of the year.

Intel forecast revenue of around $10.1bn for the current quarter, well above the estimates of analysts of around $9.51bn.