Intel Corp. trounced analysts’ average revenue and profit forecasts in the third quarter and forecasts healthy growth for the current quarter, casting doubts on expectations of a year-end slowdown already announced by some observers.
The world’s No. 1 semiconductor vendor by revenue said it sees fourth quarter revenue rising to $11.4 billion, “plus or minus $400 million.” Even the low end of the new estimate would represent an increase from the $10.6 billion posted by the company in the December 2009 quarter.
Net income in the just ended quarter rose to $3 billion, or 52 cents per diluted share, higher than the 50 cents per share average estimate from analysts, and 59 percent above the $1.86 billion, it reported in the third quarter of 2009. Revenue rose to a record $11.1 billion, up 18 percent from $9.4 billion in the comparable 2009 quarter and representing the first time the company’s sales climbed above $11 billion, according to company executives.
“Intel’s third-quarter results set all-time records for revenue and operating income,” said Paul Otellini, president and CEO of Intel in a statement. “These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets. Looking forward, we continue to see healthy worldwide demand for computing products of all types and are particularly excited about our next-generation processor.”
For Intel’s full report click here