Intel earnings, revenue beat forecast

Business News

Oct 14, 2009, 0:44 GMT

San Francisco - Intel, the world's largest maker of computer chips, reported higher than expected earnings and revenue Tuesday in a further sign that the global recession may be receding. The Silicon Valley technology bellwether said that it earned 1.9 billion dollars, or 33 cents a share, down 7.8 per cent on the same period last year, but significantly higher than the 28 cents a share predicted by Wall Street analysts. Revenue dropped 8.1 per cent to 9.4 billion dollars but still beat predicted revenue of 9 billion dollars. '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,' Intel chief executive Paul Otellini said. 'This momentum in the current economic climate, plus our product leadership, gives us confidence about our business prospects going forward.'

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