Chip giant Intel announced third-quarter earnings of $1.9 billion, or 33 cents per share, on a revenue of $9.4 billion. Revenue was down 8 percent compared to last year and earnings dipped 2 cents per share, but the company beat Wall Street expectations of earnings of 28 cents per share on a revenue of $9 billion and boasts this was its strongest second-to-third-quarter growth in over 30 years. Additionally, the company's outlook for the fourth quarter is more optimistic than analysts were counting on.
Intel Corporation today reported third-quarter revenue of $9.4 billion. The company reported operating income of $2.6 billion, net income of $1.9 billion and earnings per share (EPS) of 33 cents.
"Intel's strong third-quarter results underscore that computing is essential to people's lives, proving the importance of technology innovation in leading an economic recovery," said Paul Otellini, Intel president and CEO. "This momentum in the current economic climate, plus our product leadership, gives us confidence about our business prospects going forward. As we look ahead, Intel's game-changing 32nm process technology will usher in another wave of innovation from new, powerful Intel® Xeon™ server platforms to high-performance Intel® Core™ processors to low-power Intel® Atom™ processors."