Crisis, what crisis?
Intel provided welcome relief from all the talk of financial apocalypse and beat estimates with a 12 percent increase in its third quarter profits, totalling a cool two billion dollars.
$10.2 billion in revenue was only one percent up on the same quarter last year, but that was still enough for it to set a new record for Q3 and yielded a 44 percent rise in operating income to $3.1 billion.
"As we look to Q4, it's hard to know what impact the financial crisis will have on end customer demand," said Intel CEO Paul Otellini. "We are confident that our own product portfolio, strong cash flow, commitment to deploying new technology and market momentum will allow us to outpace peer companies at a time when business levels are difficult to predict."
Among the highlights of Intel's quarter were sales of Atom processors and chipsets, which totalled around $200 million, but this led to a lower average selling price. Intel forecast revenue of between $10.1 and $10.9 billion for Q4.
