Expects revenue to be $14.7b, plus or minus $500m
Semiconductor firm Intel has reported non-GAAP revenue of $14.3b for the third quarter in 2011, up 29% compared with $11.1b in the same quarter previous year.
The company posted net income of $3.7b for the third quarter, an increase of 24% compared with $3b in same quarter 2010.
Gross margin increased was 64.4%, down 1.7 percentage points year-over-year, while operating income was $5.1b, up 22% percent year-over-year from $4.2b.
Intel president and CEO Paul Otellini said Intel delivered record-setting results again in Q3, surpassing $14b in revenue for the first time, driven largely by double-digit unit growth in notebook PCs
"We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing," Otellini said.
On a GAAP basis, revenue was $14.2b, operating income was $4.8bn, net income was $3.5b, EPS was 69 cents, and gross margin was 63.4%, down 2.6 percentage points year-over-year.
For the fourth quarter, the company expects revenue to be $14.7b, plus or minus $500m, on both a GAAP and non-GAAP basis.