Intel reports rise in Q3 profits

e14news — Fri, 08 Oct 2021 04:23:16 GMT

Current Revision posted to Documents by e14news on 10/8/2021 4:23:16 AM
Intel has reported a 17 per cent rise in third-quarter profits, confirming that net income for the three months to September was $3.47 billion (£2.2 billion) compared with $2.96 billion in 2010.

The chipmakers announcement outstripped market expectations, thereby dispelling the notion that global demand for PCs and laptops has been stifled by growing sales of tablets.

Indeed, Intel's chips are used in four-fifths of the world's PCs.

According to Intel, demand from China and other developing countries has helped offset slower growth in the firm's mature markets.

"Emerging markets are good, enterprise is strong, the mature market consumer is a little bit weaker," Stacy Smith, Intel's chief financial officer, explained to wireless communication device users and others.

The firm's financial figures were also boosted by corporate IT spending, which has helped sales of its more profitable server chips.

Founded in 1968, Intel is the world's largest semiconductor chip maker based on revenue.

Posted by Simon Jones