Intel Reports First $11 Billion Revenue Quarter
Intel Corporation today reported that third-quarter revenue exceeded $11 billion for the first time, up 18 percent year-over-year to $11.1 billion. The company reported operating income of $4.1 billion, net income of $3.0 billion and EPS of 52 cents.
"Intel's third-quarter results set all-time records for revenue and operating income," said Paul Otellini, Intel president and CEO. "These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets. Looking forward, we continue to see healthy worldwide demand for computing products of all types and are particularly excited about our next-generation processor, codenamed Sandy Bridge, and the many new designs around our Intel Atom processors in everything from the new Google TV products to a wide array of tablets based on Windows, Android and MeeGo operating systems."
Q3 2010 Highlights
PC Client Group revenue was up 3 percent sequentially, with record mobile microprocessor revenue.
Data Center Group revenue was up 3 percent sequentially, with record server microprocessor revenue.
Intel Atom microprocessor and chipset revenue of $396 million, down 4 percent sequentially.
The average selling price (ASP) for microprocessors was approximately flat sequentially and up significantly year-over-year.
Gross margin was 66 percent, consistent with the company's revised expectation of 65 to 67 percent.
R&D plus MG&A spending was $3.2 billion, consistent with the company's expectation.
The net gain from equity investments and interest and other was $115 million, lower than the company's revised expectation of $175 million.
The effective tax rate was 30.5 percent, slightly below the company's expectation of approximately 32 percent.
The Outlook for the fourth quarter does not include the effect of any acquisitions, divestitures or similar transactions that may be completed after Oct. 12.
Revenue: $11.4 billion, plus or minus $400 million.
Gross margin: 67 percent, plus or minus a couple percentage points.
R&D plus MG&A spending: Approximately $3.2 billion.
Impact of equity investments and interest and other: Approximately $20 million gain.
Depreciation: Approximately $1.1 billion.
Tax rate: Approximately 31 percent.
Full-year capital spending: $5.2 billion, plus or minus $200 million.
Status of Business Outlook
During the quarter, Intel's corporate representatives may reiterate the Business Outlook during private meetings with investors, investment analysts, the media and others. From the close of business on Nov. 24 until publication of the company's fourth-quarter earnings release, Intel will observe a "Quiet Period" during which the Business Outlook disclosed in the company's news releases and filings with the SEC should be considered as historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.
For complete earnings information, visit the INTC website.
Latest News Posts
- How to get 1TB of lifetime cloud storage for only $39
- NASA finds strong evidence of water plumes on Europa
- Another stupid human crashes Google's self-driving party
- Xbox One S now gets free game of choice from Microsoft
- Apple's total cost to manufacture the iPhone 7 is $225
- Fitbit Charge 2 Fitness Band Review
- Samsung 850 EVO 4TB SATA III SSD Review
- Mirror's Edge Catalyst Graphics Performance Tweak Guide
- Prepping LGA2011 Build
- Unable to find BIOS update for motherboard
- Antec and Razer team up to co-brand a new Mini-ITX gaming chassis
- Samsung Electronics accelerates the NVMe era for consumers with its highest performing 960 PRO and EVO Solid State Drives
- Lighting is in the Aer: NZXT launches Aer RGB, premium LED PWM fans
- Syber Gaming delivers VR and 4K-ready 'C Series' small form factor gaming PC
- HyperX Gears of War gaming headset shipping now