Intel announces record $11.1 billion revenue for third quarter

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Intel has reported its best-ever quarter, with revenue surpassing $11 billion for the first time in the company's 42 year history. Revenue reached $11.1 billion, up 18% from the year-ago period, while income totaled $3 billion. Both the PC Client Group and Data Center Group grew 3% sequentially, with record mobile and server processor sales. Atom CPU and chipset revenue was down 4% sequentially at $396 million. The average selling price for processors was approximately flat from the second quarter, but up significantly on-year. R&D plus MG&A spending was $3.2 billion.

The third quarter ended in the company's forecasted range of $10.8 billion and $11.2 billion and it expects to see even more cash next quarter, with revenue pegged for $11.4 billion, give or take $400 million. "Looking forward, we continue to see a 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," said Intel CEO Paul Otellini.

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