Intel posts strong quarterly earnings

Intel Corp. on Tuesday reported its third fiscal quarter earnings that beat Wall Street analysts projections. The world's largest chipmaker reported a revenue of 14.2 billion U.S. dollars, an increase of 28 percent compared with the year-ago quarter. Net income was 3.5 billion dollars, an increase of 17 percent year-over-year, and the earnings pre share was 65 cents, up by 25 percent compared with the same period last year. "Intel delivered record-setting results again in Q3, surpassing 14 billion dollars in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," said Paul Otellini, Intel president and CEO, in a statement. "We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing." An average estimate from the analysts polled by Thomson Reuters is 61 cents per share and 13.9 billion dollars in revenue. Some analysts and investors have been expressing concerns about Intel, citing reports of slow PC demand and sales, as well as the company's battle for a decent market share of tablets and smartphone chips.