'Solid' Corporate Demand Drives Intel's Q3 Earnings


Intel on Tuesday reported fiscal third quarter results that surpassed Wall Street's expectations, but not by much.

In its Q3, Intel racked up revenue of $11.1 billion, up 19 percent year-over-year. Its quarterly profit came in at $3 billion, or 52 cents per share, up 59 percent compared to the same period last year. Wall Street analysts polled by Thomson Reuters had anticipated revenue of $11.1 billion and earnings of 50 cents per share.

Intel's Q3 results are within the range the company provided in August when it revised its original forecast downward, citing weak consumer PC demand and fears of a global economic slowdown.

This time around, however, Intel sounded a more upbeat tone. Intel's PC Client Group revenue was up 14 percent year-over-year to $8.1 billion, while Intel's Data Center Group revenue rose 30 percent during the period to $2.2 billion. Sales for both groups rose 3 percent sequentially, Intel said.

"These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets," Intel CEO Paul Otellini said in a statement.

 

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