Intel posts record third quarter profits on back of netbook PC sales growth
Intel's Q3 results saw sales grow 28% year-on-year to reach $14.2bn, up $3.1bn. Profit grew 17% year-on-year to reach $3.5bn, up $513m. Intel's PC client group sales increase 22% compared to 2010 figures to $9.4bn.
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Intel has posted record sales and profits after strong growth in the PC market.
In its third quarter financial results, Intel's sales grew 28% year-on-year to reach $14.2bn, up $3.1bn. Profit grew 17% year-on-year to reach $3.5bn, up $513m. Intel's PC client group sales increase 22% compared to 2010 figures to $9.4bn.
Paul Otellini, Intel president and CEO, said the results were driven by growth in notebook PC sales.
He said: "Intel delivered record-setting results again in the third quarter, surpassing $14bn in sales for the first time, driven largely by double-digit unit growth in notebook PCs."
Otellini added: "We also saw continued strength in the datacentre fuelled by the ongoing growth of mobile and cloud computing."
Stacy Smith, Intel's CFO, said the third quarter sales were a record, making it the company's most profitable quarter ever.
"Strong PC and server demand, improving manufacturing costs and operational expense discipline led to record profitability in the third quarter of 2011," he said.
Smith added: "The third quarter saw notebook units grow in the double digits both year-on-year and sequentially, stronger than expected communications processor demand and continued datacentre strength."
Other Intel architecture group sales remained flat from the second quarter at $1.4bn.
Intel is to develop smartphone processors for the Google Android operating system.
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