Here's Why Intel Shares Crashed Today

Shares of semiconductor giant Intel (NASDAQ: INTC) fell as much as 11.7% on Friday following the company's third-quarter earnings report. The financial figures in this mixed report were solid enough, but Intel's ambitious turnaround plan left many investors more fearful than inspired.

Intel's third-quarter sales fell 1.1% year over year to $18.1 billion. Adjusted earnings jumped 54%, landing at $1.71 per diluted share. Your average analyst had been looking for earnings near $1.11 per share on revenue in the neighborhood of $18.2 billion.

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Source Fool.com