Intel reports record Q3
Company sees 28% increase in earnings and revenue, but microprocessor, chipset revenue falls
Intel Corporation has reported a 28% increase in earnings and revenue year-over-year for Q3 2011; however, its Atom microprocessor and chipset revenue fell 32% year-over-year to $269 million.
The company also set records for microprocessor units shipped and EPS.
"Intel delivered record-setting results again in Q3, surpassing $14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," said Paul Otellini, Intel president and CEO. "We also saw continued strength in the data centre fuelled by the ongoing growth of mobile and cloud computing."
On a Non-GAAP basis, revenue was $14.3 billion, operating income was $5.1 billion, net income was $3.7bn and EPS was 69 cents. On a GAAP basis, the company reported third-quarter revenue of $14.2bn, operating income of $4.8bn, net income of $3.5 billion and EPS of 65 cents.
Intel's board of directors also voted to increase the company's buyback authorisation by $10 billion, raising the total unused balance to $14.2bn at the end of the third quarter. The company also completed a senior notes offering of $5 billion primarily for the purpose of repurchasing stock.
Intel's PC Client Group revenue was $9.4bn, up 22% year-over-year, the Data Centre Group's revenue was up 15% to $2.5bn, and other Intel architecture group revenue was up 68% year-over-year.