Intel posts record net income, revenue for Q3

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Chipmaker Intel Corp has reported a 24 per cent rise in net income to a record of USD 3.7 billion in the July-September quarter, fueled by robust sales of notebook PCs and growth in emerging markets.

The company, whose chips are used in about 80 per cent of the computers globally, posted record revenues of USD 14.2 billion for the third quarter ended September 30, 2011, up 29 per cent from the year-ago period.

"Intel delivered record-setting results again in Q3, surpassing USD 14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," Intel president and CEO Paul Otellini said in a statement.

Revenue from PC manufacturers rose 22 per cent from the year-earlier period to USD 9.4 billion and revenue in Intel's data center business, which provides chips for server systems and related products, grew 15 per cent from a year ago period to USD 2.5 billion.

"The third quarter grew in line with historical seasonal patterns and demand drivers played out similar to the first half of the year with continued strength in emerging markets and enterprise, being offset partially by slower growth in the mature market consumer segment," Intel said.

Intel generated about USD 6.3 billion in cash from operations, paid cash dividends of USD 1.1 billion. The company spent USD 4 billion to buy back shares during the third quarter and authorised another USD 10 billion for more buybacks.

The company said it was upbeat over its current quarter earnings and expect to post a revenue of USD 14.7 billion, plus or minus USD 500 million.