Intel profits continue to climb
Intel has posted net profits of $1.9 billion for the third quarter of 2009, providing a healthy boost to its bottom line.
The profits are up by more than $800m on the figures recorded in the second quarter of this year, although they’re down by more than $150m on the same quarter in 2008.
Likewise, revenue continued to climb to $.9.4 billion (compared to $8 billion in Q2) although that too is down by more than $800m on the same period las year.
The results surpassed most Wall Street analysts’ expectations, with Intel CEO Paul Otellini declaring himself pleased with the results.
“Intel’s strong third-quarter results underscore that computing is essential to people’s lives, proving the importance of technology innovation in leading an economic recovery,” claims Otellini. “This momentum in the current economic climate, plus our product leadership, gives us confidence about our business prospects going forward.”
However, Otellini later warned that it’s not time to start popping the champagne corks yet. The Intel boss told analysts that enterprise demand for new hardware remained weak.
The company also revealed that the average selling price of processors was coming down, most likely due to the success of low-budget chips such as the netbook staple Atom.