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Intel beats third quarter earnings forecasts
Intel did well for itself in the third quarter, outpacing analyst's profit and revenue forecasts -- though, figures were still down from a year ago. The chipmaker posted net income of $1.9 billion on revenue of $9.4 billion during the third quarter, which is up 73% and 18% from the previous quarter, but down 15% and 7.8% year-over-year.
Intel seemed pleased with the figures despite the decline from 2008. "Intel's strong third-quarter results underscore that computing is essential to people's lives, proving the importance of technology innovation in leading an economic recovery," said Intel CEO Paul Otellini in a statement. Otellini said the company is confident in its business prospects going forward, and it is looking ahead to its "game-changing" 32nm technology.
During the second quarter, Intel accounted for 80.6% of global microprocessor revenue -- up 1.4% from a year ago. The company's presence will only increase as it elbows its way into the mobile market.
Intel seemed pleased with the figures despite the decline from 2008. "Intel's strong third-quarter results underscore that computing is essential to people's lives, proving the importance of technology innovation in leading an economic recovery," said Intel CEO Paul Otellini in a statement. Otellini said the company is confident in its business prospects going forward, and it is looking ahead to its "game-changing" 32nm technology.
During the second quarter, Intel accounted for 80.6% of global microprocessor revenue -- up 1.4% from a year ago. The company's presence will only increase as it elbows its way into the mobile market.
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