Business
Intel’s engines raking in $10.1 billion in Q3
Intel said strong demand for its microprocessors is giving the company a better-than-expected outlook, the quarterly profit rises 43%
The news indicated that the world’s top maker of microchips was gaining market share from smaller rival Advanced Micro Devices and also boded well for personal computer sales in the fourth quarter, analysts said.
“The overall message is one of strong demand,” Intel Chief Financial Officer Andy Bryant said in a telephone interview, adding the quarter’s revenue rose 16 percent sequentially, which was the highest growth rate in 10 years.
“All worldwide markets saw reasonable growth and there’s no question that Europe and Asia had the strongest growth,” he said. “The U.S. market was pretty normal.”
Intel said its third-quarter net income rose to $1.86 billion, or 31 cents per share, from $1.30 billion, or 22 cents per share a year earlier. The results were helped by higher sales of microprocessors for notebook computers and Intel’s restructuring efforts.
Shares of Intel, based in Santa Clara, California, rose 5.1 percent to $26.78 in after hours trading compared with their Nasdaq close of $25.48. AMD shares rose 2.4 percent to $14.30 from their close of $13.96.
