Intel announced a third-quarter revenue of $11.1 billion, up 18 percent year-over-year, with net income of $3.0 billion and earnings per share of 52 cents, compared to 33 cents a year earlier. It's the first time that the chip giant's revenue exceeds $11 billion, and for the current quarter Intel anticipates sales of $11.4 billion, give or take $400 million. Intel CEO Paul Otellini attributes the record revenue to to solid demand from the corporate market and continued growth in emerging markets.
Analysts estimated Intel to unveil a profit of 50 cents per share on revenue of $11 billion, according to data released by Thomson Reuters.
Intel's shares are up 0.71 percent in after-hours trading to $19.91.
SANTA CLARA, Calif., Oct. 12, 2010 – Intel Corporation today reported that third-quarter revenue exceeded $11 billion for the first time, up 18 percent year-over-year to $11.1 billion. The company reported operating income of $4.1 billion, net income of $3.0 billion and EPS of 52 cents.
“Intel’s third-quarter results set all-time records for revenue and operating income,” said Paul Otellini, Intel president and CEO. “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, codenamed Sandy Bridge, and the many new designs around our Intel® Atom™ processors in everything from the new Google TV* products to a wide array of tablets based on Windows*, Android* and MeeGo* operating systems.”
Q3 2010 Highlights
* PC Client Group revenue was up 3 percent sequentially, with record mobile microprocessor revenue.
* Data Center Group revenue was up 3 percent sequentially, with record server microprocessor revenue.
* Intel Atom microprocessor and chipset revenue of $396 million, down 4 percent sequentially.
* The average selling price (ASP) for microprocessors was approximately flat sequentially and up significantly year-over-year.
* Gross margin was 66 percent, consistent with the company’s revised expectation of 65 to 67 percent.
* R&D plus MG&A spending was $3.2 billion, consistent with the company’s expectation.
* The net gain from equity investments and interest and other was $115 million, lower than the company’s revised expectation of $175 million.
* The effective tax rate was 30.5 percent, slightly below the company’s expectation of approximately 32 percent.
The Outlook for the fourth quarter does not include the effect of any acquisitions, divestitures or similar transactions that may be completed after Oct. 12.
* Revenue: $11.4 billion, plus or minus $400 million.
* Gross margin: 67 percent, plus or minus a couple percentage points.
* R&D plus MG&A spending: Approximately $3.2 billion.
* Impact of equity investments and interest and other: Approximately $20 million gain.
* Depreciation: Approximately $1.1 billion.
* Tax rate: Approximately 31 percent.
* Full-year capital spending: $5.2 billion, plus or minus $200 million.
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Re: Intel posts its first $11 billion quarter by Anonymous on Wednesday, October 13 2010 @ 04:08:59 CEST
Now let's get that Sandy Bridge mobile with USB 3 and the G3 SSD's out the door ASAP ok? We've got customers a waitin!