Revenue in the three months ended in September fell to $13.5 billion, yielding EPS of 60 cents.

Analysts on average had been modeling $13.22 billion and 49 cents a share.

For the current quarter, the company sees revenue in a range of $13.1 billion to $14.1 billion. At the midpoint, $13.6 billion, that is below the consensus $13.71 billion.

CEO Paul Otellini said the results reflected “a continuing tough economic environment.” He also said the company is “pleased with continued progress in ultrabooks and phones and excited about the range of Intel-based tablets coming to market.”