Intel Earned $3 Billion Profit in Q3

Revenue was up 18% to $11 billion

Computer chip giant Intel posted a quarterly net profit of nearly $3 billion on Oct. 12 and record revenue of more than $11 billion.

The Santa Clara, California-based technology bellwether reported third-quarter revenue of $2.95 billion, up from $1.85 billion during the same period a year ago.

Earnings per share of 52 cents were slightly better than the 50 cents expected by Wall Street analysts.

Revenue rose 18% during the quarter ending September 25 to $11.1 billion, roughly what the company forecast in August when it slashed its third quarter revenue outlook due to lower demand for computers.

"Intel's third-quarter results set all-time records for revenue and operating income," Intel CEO Paul Otellini said.

"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 continue to see healthy worldwide demand for computing products of all types and are particularly excited about our next-generation processor, codenamed Sandy Bridge, and the many new designs around our Intel Atom processors," he said.

Intel, the world's biggest manufacturer of computer chips, said it expected revenue of $11 billion to $11.8 billion during the current quarter.

Copyright Agence France-Presse, 2010

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