Record Q3 revenue and profit for Intel
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Intel has reported record revenue and profit for the third quarter of 2011. The results set new records for microprocessor units shipped, earnings and revenue, which was up 28% year on year.
Paul Otellini, Intel president and ceo, said: "Intel delivered record setting results again in Q3, surpassing $14billion in revenue for the first time, driven largely by double digit unit growth in notebook pcs. We also saw continued strength in the data centre fueled by the ongoing growth of mobile and cloud computing."
On a non GAAP basis, revenue was $14.3bn, operating income was $5.1bn and net income was $3.7bn. On a GAAP basis, the company reported third quarter revenue of $14.2bn, operating income of $4.8bn and net income of $3.5bn.
The company generated approximately $6.3bn in cash from operations, paid cash dividends of $1.1bn and used $4bn to repurchase 186million shares of common stock. Intel's board of directors also voted to increase the company's buyback authorisation by $10bn, raising the total unused balance to $14.2bn at the end of the third quarter.
