by Staff Writers
New York (AFP) Oct 14, 2014
Computer chip giant Intel reported a jump in quarterly profits Tuesday, as its newly diversified product lineup lifted revenues to record highs.
The California tech giant said its net profit for the third quarter rose 12 percent from a year earlier to $3.3 billion, while revenues rose eight percent to a record $14.6 billion. Both figures topped analyst forecasts.
"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. There is more to do, but our results give us confidence that we're successfully executing our strategy of extending our products across a broad range of exciting new markets."
Intel, the longtime leader in semiconductors for personal computers, has been shifting its focus to mobile devices and connected objects, including a recently announced heart monitor which is incorporated in audio headphones.
The chip giant has also been helped by a steadier PC market, which is showing signs of stabilizing after big drops in 2013.
Intel's PC division delivered revenues of $9.2 billion, up nine percent year-over-year, while its cloud services showed 16 percent growth, at $3.7 billion. Revenues linked to the so-called Internet of Things Group was up 14 percent at $530 million.
Intel shares rose 0.8 percent to $32.46 in after-hours electronic trades after the earnings report.
Computer Chip Architecture, Technology and Manufacture
Nano Technology News From SpaceMart.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.|