Intel's shares tanked 10% late Thursday after the chip giant announced that production problems have delayed the rollout of its next generation chips.
Intel posted better-than-expected results for the second quarter, with profits of $5.1 billion on revenues of $19.7 billion.The semiconductor giant on Thursday posted second-quarter results that beat Wall Street expectations. But Intel's stock plunged 10% in late trades after the company said production problems will delay the rollout of its next generation of chips.
Intel reported a profit of $5.1 billion, or $1.19 a share, compared with a profit of $4.2 billion, or 92 cents a share, for the year-ago period. Revenue rose 20% to $19.7 billion from the year-ago quarter. Adjusted profit was $1.23 a share. Analysts were expecting a profit of $1.11 a share on revenue of $18.6 billion.
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