Intel's profit rose at slowest pace in five quarters

&to=' target=_blank>Intel Corp. said its third-quarter profit rose at the slowest pace in five quarters on record stockpile of computer chips, growing competition and slow sales of PCs.

Net income rose 15% to $1.91 billion, or 30 cents a share, from $1.66 billion, or 25 cents, a year earlier. Sales rose 8.1% to $8.47 billion, from $7.8 billion a year earlier. According to a survey by Thomson First Call analysts were expecting profit of 27 cents per share and sales - $8.4 billion. Gross margins were 55.7%, compared with the 58% predicted by the company, informs Finance Gates.

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