Credit cri-what? Seemingly unfazed by the tumultuous economic landscape, Intel has posted its "best third-quarter revenue in its history," in the words of CEO Paul Otellini. The company says it had revenue of $10.3 billion, net income of $2 billion, and a 59% gross margin last quarter.
Those figures represent a 1% rise in revenue and a 12% rise in net income compared to the third quarter of 2007. Revenue and profits went up a respective 8% and 26% compared to the second quarter of this year, as well. Intel credits record processor and chipset sales, lower processor unit costs, and a lower-than-expected tax rate for the more-than-healthy quarter. Interestingly, the success of the Atom processor seems to have only played a small part: Intel says revenue for Atom processors and chipsets added up to just $200 million in Q3.
Looking forward, Otellini sounds bullish overall. "As we look to Q4, it is hard to know what impact the financial crisis will have on end customer demand. We are confident that our product portfolio, strong cash flow, commitment to deploying new technology and market momentum will allow us to outpace peer companies at a time when business levels are difficult to predict," he says in the press release. Intel expects Q4 revenue to add up to $10.1-10.9 billion, with a gross margin sitting pretty much still at 59%, give or take a couple of points.