Intel shares fall after lacklustre results

COMPUTER giant Intel saw its shares fall to $14.70 from $16.52 last night after the world’s largest chipmaker posted profits that rose less than analysts had expected amid a widespread slump in chip demand.

The company, which employs 3,200 in Ireland, reported revenues of $6.5 million for the quarter, in line with its earlier trading statement.

Following the disappointing results Intel said its major cost-saving programme would continue. Part of its savings programme is a two-week shutdown of its Irish operations over the Christmas period.