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Intel financials set new records

14 Oct 10

Revenue for the quarter was up 18% year-over-year to $11.1 billion, as Intel reports operating income of $4.1 billion and net income of $3.0 billion. 

“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,” he added. 

“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%

  • Data Centre Group revenue was up 3%

  • Atom processor and chipset revenue of $396 million, down 4%.

  • The average price for microprocessors was flat sequentially and up significantly year-over-year.

  • Gross margin was 66%, consistent with the company’s revised expectation of 65 to 67%.

  • 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%, slightly below the company’s expectation of approximately 32%.