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And -- released third quarter results earlier this hour here's what they did they -- on both the top and the bottom line.
As for earnings per share coming in at sixty cents the estimate was 49 cents.
Now we've got the got calling the financial shots inside the chip giant joining us now Stacy -- Intel chief financial officer.
And senior VP you know David and I think -- always look at a stock right after earnings come out first you guys were up then you're down -- moderating and pretty much.
At where the stock closed so we're putting that aside and saying.
Yes you beat on but the top and bottom line but what got you there and these were down upwardly revised.
Numbers that you guys have -- about a month ago we have to lower them because things are slower.
I would characterize the third quarter as we we saw some growth.
In the PC market a little less than seasonal but we did see some growth.
But what we're seeing out there is that our customers are managing their inventory levels very cautiously and that impact -- this in the third quarter.
We think that'll impact -- some more in in the fourth quarter and so we're we're seeing this level of caution out there.
That said -- in the middle of this great product cycle and not something that you know has me pretty excited about becoming.
Orders well look you guys when you say your customers -- throw that term out but you're inside Apple Computer's not the iPad but you're in some of their computers -- -- Hewlett-Packard here in -- We just saw.
Over Adele -- over Hewlett-Packard -- we were with Meg Whitman and they've been very excited.
About some of their their parents and things like that they're coming out with Smartphones they say they're waiting on this.
But they didn't really mention PCs and we note that PC sales are down.
Are you meaningfully branching out into the Smartphone world we know you -- the Indian Smartphone for the lava phone but what else what are you most excited about coming up now.
Yeah and -- just to correct one thing we we actually saw -- PC sales.
Up in the third quarter we expect him to be up in the fourth quarter as -- also -- put that aside.
Who -- -- you're right in that pushing this level of innovation really across all of these different form factors and and it's one of the most exciting things that I think is happening right now -- There are all these devices now the -- and connect to the Internet they're all these markets forming that we can participate in and you know when I compare where we are today we Intel compared to the beginning of the year.
-- there's a hundred -- book designs come into the market in the fourth quarter.
Forty of those are touch and able to many of those are these very innovative designs.
That are convertibles and those kinds of things.
We're in twenty different tablets that are going to be shipping him the fourth quarter of superior we're really weren't in any -- Over the course of 2012.
We started to build design wins and phones and you mentioned the -- phone.
Or -- -- Motorola from the shipping and and Europe and while.
These are small for us from a volume standpoint the design winds are significant and what we're seeing is great critical acclaim of the strength of the technology that we're bringing.
To our customers and that's exactly what we needed to do in 2012.
You know I I hear you and I get that and I have seen and I hear about the windows -- excitement in and that's going to enable the touch screen and you know people are still saying I'm talking about analysts who still savior to -- to -- the analysts again but that that Intel is in denial that there are not.
That they didn't recognize the trend quickly enough what do you say that them that as ultra book's sales are are perhaps starting to take cold but not quite as exciting.
As iPad sales for example.
-- I I would say that you know we are moving the company very rapidly.
Towards participating across all of these different markets and we had a very strong position as you say MPC's.
And with ultra books and convertibles and touch screens.
-- -- -- -- Innovation and excitement in this industry that we haven't seen in a long time what is the most exciting I think it's for -- that you see out there what what grabs your attention.
You know I I think that some of the convertible ultra book designs that worsening that are gonna come to the market in the fourth quarter.
Are extremely innovative there -- no compromise devices.
And they're gonna be hitting price points are kind of right in there with with the tablets and so.
You -- -- -- this possibility -- you have a touch screen convertible to book that does everything I need to do from a productivity standpoint.
And then can be a tablet and other modes when I'm traveling or things like that.
Those devices I think are going to be really exciting I think they're generate a lot of enthusiasm and a lot of momentum in the industry.
The idea that -- twists write off agreements sometimes they have magnetic but -- he just told that there and it it attaches to a let me just quickly get a comment on your Q4 outlook.
The current quarter.
You gave a range of thirteen point one billion to fourteen point one billion I guess the midpoint of that is slightly below what the analysts has expected mid point thirteen point six analysts thought thirteen point seven.
How confident -- you that you might best that.
Well you know we put -- -- forecasts it's consistent with what we know we start the quarter what we're seeing out there and what our expectations are for Q4.
Is that we're gonna see some growth in the markets a little bit -- and seasonal.
But an expectation based on the order patterns of what we're seeing from our customers -- they continue to manage things very cautiously.
I think there's some catalysts hitting the market in Q4 always new products and I'm talking about -- -- kind of see how they do over the course of the quarter.
Plus -- Christmas hello I'm hit -- with what -- spend money on the gets out there good to see Stacy thank you so much.
It's good to be back -- Tracy Smith Intel chief financial officer and senior VP all right let.
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