Intel reports “record” revenues up 28%, thanks to surprise jump in notebook demand but will be be hoping its new Ultrabooks will do the business for it, going forward. Its third-quarter results, just announced, reveal new record highs for microprocessors shipped, which CEO Paul Otellini put down to “double-digit” growth in notebooks.Revenue hit $14.2 billion (GAAP), up $3.2 bn, or 28 percent year-over-year, beating analyst expectations and will soar to $14.7 billion, plus or minus $500 million next quarter Q4, the processor giant said today.
Analyst predictions for Q3 revenues were $13.9 billion, on average.
Net income hit $3.5 bn, a 24% hike on the same period a year ago. Earnings per share record 65 cents, up 13 cents, 25 percent year-over-year.
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“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 center fueled by the ongoing growth of mobile and cloud computing.”
This somewhat unexpected spike in notebook demand defied market predictions, which indicate tablets and mobile computing are on the ascendancy, to the detriment of PCs.
IDC figures in June suggested smartphone growth would top 55%, while PC growth forecasts are firmly in single digits of around 4.2%.
However, it appears to be emerging markets are much of the source of Intel sales high.
“Emerging markets, as the technology we sell becomes more affordable, are generating significant growth,” Intel Chief Financial Officer, Stacy Smith, revealed yesterday.
But it will be hoping its new Ultrabook line out, which Intel first announced earlier this year and hopes will make up 40% of the notebook market by 2012, set to launch soon in Australia, will provide another boost to revenues.
However, Otellini also said yesterday the chipmaker is looking to spread its wings to phones from a “variety of suppliers” kicking off early next year.
According to Bloomberg, rival AMD recent manufacturing problems also helped Intel, the worlds largest chip maker, to stay on top.
Intel’s board of directors also voted to increase the company’s buy-back authorisation by $10 billion.