Intel reports Q3’2020 results with good news and bad news

For Q3 2020, Intel reported a decline in sales (revenue), profits, and margins even as even though more people bought PCs, as consumers and companies adjusted to work at home. Likewise, organizations and governments pulled back on data center spending. The company also acknowledged its next generation of chipmaking technology was six months behind schedule. Overall PC sales were up for the quarter, but Intel sold a larger volume of less-profitable chips in its PC business. That drove down operating margins to 36% in the third quarter from 44% a year earlier. Intel says growth in their PC-centric business was