Intel profits: Chip-maker up 13% on recovering PC market

BBC

Chip-maker Intel said net profit for the third quarter rose to $3.32bn (£2.09bn) from $2.95bn a year earlier.

Profit rose as demand for personal computers recovered after previous years of decline. Sales rose 8% to $14.6bn, beating analyst estimates.

The firm shipped more than 100m microprocessors in the quarter, the first time it has done so, it said.

It expects between $14.2bn and $15.2bn of revenue for the last three months of the financial year, it said.

“We are pleased by the progress the company is making,” said Intel chief executive Brian Krzanich. “We achieved our best-ever revenue and strong profits in the third quarter.”

Its PC business, which includes desktops and laptops, saw sales rise 9% compared to the year earlier.

Intel saw the fortunes of PCs, which are suffering as consumers use more tablets, reverse earlier in the year, when second-quarter sales for PCs rose 6%.