Intel earnings decline on flat revenue

Intel beat analysts' expectations in earnings per share for its third quarter, but flat revenue drove down earnings 6%.

The chip maker's revenue was $14.5 billion for the quarter.

Earnings per share were 64 cents, handily beating estimates of 59 cents per share on revenue of $14.22 billion.

But the Santa Clara, Calif.-based company's profit of $3.1 billion was down 6% from $3.3 billion in the same quarter a year ago.

"In an industry that did horribly last quarter, that’s actually pretty good," said Patrick Moorhead, president of Moor Insights and Strategy in Austin, Texas.