Intel beats Q3 estimates, offers bright outlook

Intel has reported third-quarter earnings and revenue that topped estimates, and the company said it was "confident about our business prospects going forward". Intel added that its fourth-quarter revenue would come in ahead of projections.

On Tuesday Intel reported net income of $1.9bn, or 33 cents a share, on sales of $9.4bn, down from $10.2bn in the same quarter a year ago. Wall Street was looking for earnings of 28 cents on revenue of $9.06bn.

As for the outlook, Intel projected fourth quarter revenue of $10.1bn, give or take $400m. Wall Street was expecting Intel to deliver fourth quarter sales of $9.52bn. Intel also projected fourth quarter gross margins of 62 percent, ahead of the 56.86 percent estimate.

Read the full Intel's third quarter powered by inventory builds, back-to-school demand; Outlook bright on ZDNet.com.