Intel Q3 income at $2.95 bn on strong demand in EMs

Computer chip maker Intel Corporation net income grew 59.45 per cent in the third quarter to $2.95 billion, driven by robust demand from corporate customers, and strong growth in emerging markets.

It had a net income of $1.85 billion in July-September quarter of 2009, Intel said in a statement.

The chip maker has posted a jump of 18 per cent in revenue to touch a record $11.1 billion for the three months period ended September 25, 2010. In the year-ago period, the revenue stood at $9.38 billion.

"These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets," Intel president and CEO Paul Otellini said.

In terms of geographical locations, Asia Pacific region has reported 20 per cent growth in revenue to $6.60 billion in the quarter under review, against $5.32 billion in the same period last year.

Apart from Asia Pacific, the Americas and Japan also posted a double digit revenue growth of $2.24 billion and $1.13 billion respectively, while Europe was unchanged at $1.32 billion.

Looking ahead, the company expects a revenue of about $11.4 billion for the fourth quarter.

For the forthcoming quarter, "...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 products," Otellini said.

During Q3, PC Client Group revenue was up 3 per cent sequentially, with record mobile microprocessor revenue.

The company expects the impact of equity investments and interest at $20 million.