Altera Corp. Reports 48% Fall In Q3 Profit

(RTTNews) - Altera Corp. (ALTR) reported earnings for third quarter that decreased from last year.

The company said its earnings dropped to $61.52 million, or $0.20 per share. This was lower than $118.01 million, or $0.38 per share, in last year's third quarter.

Analysts had expected the company to earn $0.30 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 20.0% to $399.57 million. This was down from $499.61 million last year.

Altera Corp. earnings at a glance:

-Earnings (Q3): $61.52 Mln. vs. $118.01 Mln. last year. -Earnings Decline (Y-o-Y): -47.9% -EPS (Q3): $0.20 vs. $0.38 last year. -EPS Decline (Y-o-Y): -47.4% -Analysts Estimate: $0.30 -Revenue (Q3): $399.57 Mln vs. $499.61 Mln last year. -Revenue Change (Y-o-Y): -20.0%