INDUSTRY

Intel Corp, the world's biggest computer chipmaker, said its third-quarter profit fell 35 per cent from a year ago to $1.3 billion , but topped Wall Street forecasts. Intel, which has been struggling in the face of competition and shifting technology demands, said the profit excluding special items and stock compensation amounted to 27 cents a share, well ahead of the average Wall Street forecast of 17 cents. Revenue for the three months to September 30 fell 12 per cent from a year ago to $8.7 billion. " "We're pleased with the results of the third quarter, with record mobile and server processor shipments, strong manufacturing execution, industry acclaim for our new products, and quad-core processors now extending our leadership this quarter," Intel president and chief executive Paul Otellini said yesterday. The results included charges related to a restructuring plan at Intel that includes cuts of some 10,500 workers from a payroll of 99,000 people worldwide. The company also had to write off older processor inventory worth about $100 million.