Intel's revenue in the third quarter jumped 18 percent year-over-year, while profits also shot up over the previous year.
The world's largest chipmaker reported revenue of $11.1 billion, earning 52 cents per share and beating the analyst consensus of about 50 cents per share. This compares to $9.4 billion in revenue in the year-earlier period, or 33 cents a share. Intel said back in August
that its third-quarter revenue would be below the company's prior outlook, due to weak demand for consumer PCs, and at that time said it expected to post third-quarter revenue of about $11 billion.
Profits shot up in the third quarter to $3 billion, topping last year's third quarter of $1.9 billion and this year's prior quarter of $2.9 billion.
Gross margin, a crucial profit indicator, was 66 percent, meeting Wall Street expectations.
"Intel's third-quarter results set all-time records for revenue and operating income," said Paul Otellini, Intel president and CEO, in a statement. "These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets," Otellini said.
"Looking forward, we...are particularly excited about our next-generation processor, code-named Sandy Bridge, and the many new designs around our Intel Atom processors in everything from the new Google TV products to a wide array of tablets based on Windows, Android, and MeeGo operating systems," he said.
During today's earnings conference call, Otellini had a lot to say about Sandy Bridge, which is expected to… Read more