Chip giant Intel delivered strong third quarter results on surprising growth for notebook PCs as well as data center strength.
Intel delivered third quarter earnings of $3.5 billion, or 65 cents a share, on revenue of $14.2 billion. Non-GAAP third quarter earnings were $3.7 billion, or 69 cents a share.
Wall Street was expecting non-GAAP earnings of 61 cents a share on $13.87 billion.
As for the outlook, Intel projected fourth quarter earnings of $14.7 billion give or take $500 million. Wall Street was looking for sales of $14.3 billion in the fourth quarter.
Gross margins for the fourth quarter is expected to be 65 percent.
In a statement, Intel CEO Paul Otellini said that the company saw "double-digit unit growth in notebook PCs" and "continued strength in the data center fueled by the ongoing growth of mobile and cloud computing."
In prepared remarks, Intel CFO Stacy Smith said:
From a market standpoint, the third quarter grew in line with historical seasonal patterns and demand drivers played out similar to the first half of the year with continued strength in emerging markets and enterprise, being offset partially by slower growth in the mature market consumer segment.
By the numbers, Intel fired on most cylinders.