Intel posts record net income, revenue for Q3

Chipmaker Intel Corp has reported a 24% rise in net income to a record of $3.7 billion in the July-September quarter, fueled by robust sales of notebook PCs and growth in emerging markets.

The company, whose chips are used in about 80% of the computers globally, posted record revenues of $14.2 billion for the third quarter ended September 30, 2011, up 29% from the year-ago period.

"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," Intel President and CEO Paul Otellini said in a statement.

Revenue from PC manufacturers rose 22% from the year-earlier period to $9.4 billion and revenue in Intel's data center business, which provides chips for server systems and related products, grew 15% from a year ago period to $2.5 billion.

"The third quarter grew in line with historical seasonal patterns and demand drivers played out similar to the first half of the year with continued strength in emerging markets and enterprise, being offset partially by slower growth in the mature market consumer segment," Intel said.

Intel generated about $6.3 billion in cash from operations, paid cash dividends of $1.1 billion. The company spent $4 billion to buy back shares during the third quarter and authorised another $10 billion for more buybacks.

The company said it was upbeat over its current quarter earnings and expect to post a revenue of $14.7 billion, plus or minus $500 million.