Intel has forecast quarterly revenue above Wall Street's expectations, defying concerns that the growing popularity of tablets and a shaky economy are eating into demand for personal computers.
Intel said revenue in the current quarter would be $14.7 billion, plus or minus $500 million. Analysts on average had expected current-quarter revenue of $14.23 billion.
Intel's processors are used in 80 per cent of the world's PCs but the company has failed to gain traction in mobile gadgets like Apple’s iPad and Google's Android smartphones.
It also increasingly depends on China and other emerging markets to make up for weak sales in the United States and Europe.
GAAP net income in the third quarter was $3.5 billion, up 17 per cent. Earnings per share were 65 cents.
The world's leading chipmaker said non-GAAP revenue in the third quarter was $14.3 billion, up 29 per cent and higher than the $13.87 billion expected on average by analysts.
Shares of Intel rose 2.6 per cent in extended trade after closing up 0.52 per cent at $23.40.
Reuters
