For Intel, it seems that the economic downturn could be over as the company announced better than expected profits for the third quarter.
Net income came in at $1.9 billion, down from the $2 billion it made during the year ago quarter. Revenue fell 8% to $9.4 billion, but was ahead of analyst forecasts of $9.1 billion.
Here's a breakdown:
- Enterprise CPU revenue: $3.87 billion (down from $4.07 billion)
- Laptop/mobile device CPU revenue: $2.92 billion (down from $3.39 billion)
Intel CEO Paul Otellini said Intel remained "primarily consumer-driven," that back-to-school selling season was "exceeded expectations" and that "people are going to want to move to Windows 7, and it's just a matter of how fast they do that next year."
For Q4 Intel is predicting revenue in the region of $10.1 billion, which would compare favorably to Q4 '08 revenue of $8.2 billion.