Intel reported an increase in quarterly profits on Tuesday, brushing off weakness in the consumer market and predicting "healthy worldwide demand for computing products" moving forward.
Intel reported a net profit of US$3 billion for the third quarter ended Sept. 25, up from $1.86 billion in the same period last year. Its quarterly revenue topped $11 billion for the first time, reaching $11.1 billion, up from $9.39 billion a year earlier.
In August Intel lowered its revenue forecast to around $11 billion, citing weak demand for consumer PCs in mature markets. Its results this quarter were driven by "solid demand" from corporate customers, Intel said.
"Looking forward, we continue to see healthy worldwide demand for computing products of all types," Intel CEO Paul Otellini said in a statement.
Microprocessor revenue from the company's PC group was $6.3 billion, up from $5.2 billion the previous year. Microprocessor revenue for its Data Center group, which sells server chips, was $1.85 billion, up from $1.38 billion a year ago, Intel said.
The company is due to release faster and more energy-efficient microprocessors for laptops and desktops in the first quarter next year, based on a new microarchitecture called Sandy Bridge.
Intel also hopes to expand into new markets such as those for tablets and TVs. Logitech and Sony have announced Google TV products that use an Intel Atom chip customized for TVs and set-top boxes. Some devices makers have also designed tablets based on Intel's Atom chips.