Two of the world’s most iconic companies are finding it tough (relatively) in today’s economic climate. Intel has reported falls in both sales and profits in the third quarter. Sales fell 5.5% to $13.46bn and profits were down to $2.97bn (£1.84bn), 14% lower than the same period a year earlier. Likewise IBM reported net profits of $3.8bn, which is flat when compared with the same period last year. In this company’s case, the strength of the dollar against other currencies is a contributing factor.
Intel features as Operations Insight 12.2 in the book.
Source: BBC News