Intel records Q3 revenue of $10.1 billion USD

Things are looking pretty good in Santa Clara, California these days. Intel today announced that its third quarter revenue reached new records as result of its strong processor portfolio.

The company recorded revenue of $10.1 billion USD -- an increase of 15 percent from Q3 2006. Operating income was also up 64 percent year-over-year to $2.2 billion USD, while net income increased 43 percent to $1.9 billion USD.

"A combination of great products, strong and growing worldwide demand, and operational efficiency from our ongoing restructuring efforts led to record third-quarter revenue and a 64-percent year-over-year gain in operating income," said Paul Otellini, Intel's President and CEO. "Looking forward, we see each of these elements continuing to improve into the fourth quarter. We are very pleased with the results and optimistic about our business."

Intel reports that its microprocessor set new records during the quarter while the average selling price (ASP) remained relatively flat. Intel shipped more than two million quad core processors during Q3.

In addition, chipset and flash memory sales also set new records during the quarter, while motherboard shipments were down.

Intel's third quarter was quite profitable and it expects to record revenue of $10.5 billion USD to $11.1 billion USD during the fourth quarter. The company will have help thanks to its new 45nm-based Penryn desktop/server processors which are due to launch November 12.

Intel will follow-up in the first half of 2008 with new 45nm Menlow platform along with Penryn-based quad core mobile processors during the second half of 2008.

Intel will then crank things up even further with its 45nm Nehalem processors in the summer of 2008.

Intel’s good fortunes during the quarter still weren’t enough to stop job cuts. The company announced in late September that it would cut 10 percent of its IT staff worldwide to “stay agile and stay efficient."

info : www.dailytech.com