Intel allayed concerns about its third and fourth quarters Tuesday as CEO Paul Otellini said that the company saw solid enterprise demand and projected "healthy worldwide demand for computing products of all types."
The chip giant reported third quarter net income of US$3 billion, or 52 cents a share, on revenue of US$11.1 billion, up 18 percent from a year ago. Intel had warned that revenue would fall short of its previous expectations due to weakness in consumer demand. Wall Street was looking for earnings of 50 cents a share on revenue of US$10.99 billion.
Based on Intel's figures, consumer demand appears to have bounced back somewhat in September. Analysts had said demand appears to have stabilized for PCs and laptops. Intel CFO Stacy Smith said: "We achieved record quarterly revenue of US$11.1 billion despite a weaker than expected consumer market segment. Demand strength in emerging markets and a robust enterprise market segment led to record microprocessor units."
Read more of "Intel's outlook quells worries; Aims to be a tablet player" at ZDNet.