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Intel stock plunges 10% after data-center sales drop more than expected

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A previous version of this report listed an incorrect Wall Street revenue consensus estimate. It has been corrected.

Intel Corp. data-center sales sank more than expected in the third quarter, 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 at $53.90.

The chip maker reported third-quarter net income of $4.3 billion, or…



Source marketwatch.com

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