Intel Performs Well in Third Quarter, Confident about Future Ahead

Paul Lilly

In a turbulent tech industry in an even shakier economy, Intel's bottom line remains remarkably steadfast. The No. 1 chip maker today reported net income of $1.9 billion on shares of $9.4 billion. That breaks down to 33 cents per share, besting Wall Street's projection of 28 cents on revenue of $9.06 billion.

"This momentum in the current economic climate, plus our product leadership, gives us confidence about our business prospects going forward," said Intel CEO Paul Otellini .

Otellini added that his company's success is the result of having "the right products at the right costs at the right times for a recovering global economy." He specifically pointed out strong notebook growth, an area Intel has performed particularly well. And it doesn't hurt that the chip maker has virtually no competition in the fast growing netbook and nettop sectors.

Looking ahead, Intel projects fourth quarter revenue to hit $10.1 billion, putting it on pace with last year's numbers. It would also once again best Wall Street's projection of $9.52 billion for Q4.

Image Credit: Intel

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