Intel reports record earnings, revenue and shipments for Q3

Intel Corporation has reported its third-quarter results, saying it has set records for microprocessor units shipped, EPS, earnings and revenue, which was up 28 per cent year over year.

’Intel delivered record-setting results again in Q3, surpassing $14bn [£8.9bn] in revenue for the first time, driven largely by double-digit unit growth in notebook PCs,’ said Paul Otellini, Intel president and chief executive officer. ’We also saw continued strength in the data centre fuelled by the ongoing growth of mobile and cloud computing.’

In a statement the company said that on a Non-GAAP basis, revenue was $14.3bn, operating income was $5.1bn, net income was $3.7bn and EPS was $0.69. On a GAAP (generally accepted accounting principles) basis, the company reported Q3 revenue of $14.2bn, operating income of $4.8bn, net income of $3.5bn and EPS of $0.65.

The company generated approximately $6.3bn in cash from operations, paid cash dividends of $1.1bn, and used $4bn to repurchase 186 million shares of common stock. Intel’s board of directors also voted to increase the company’s buyback authorisation by $10bn, raising the total unused balance to $14.2bn at the end of the third quarter. The company also completed a senior notes offering of $5bn primarily for the purpose of repurchasing stock.