Chip giant Intel has reported a net profit of $3.3 billion for the third quarter, representing a 12 per cent increase over the same period in 2013.
The firm's profits, which included a 9 per cent increase in year-over-year revenue for its PC Client Group, have beaten analysts' expectations and may ease fears of a declining PC market.
"We are pleased by the progress the company is making," said Intel CEO Brian Krzanich. "We achieved our best-ever revenue and strong profits in the third quarter."
Intel revealed that shipments of PC chips rose 15 per cent, while sales of notebook processors were up by 21 per cent. Factoring all of its businesses into the equation, including the profitable Data Centre Group, Intel shipped more than 100 million microprocessors in a quarter - a first in its 46-year history.
The company has projected revenue of $14.7 billion in the fourth quarter, but admits that significant challenges still remain.
"There is more to do, but our results give us confidence that we’re successfully executing to our strategy of extending our products across a broad range of exciting new markets," adds Krzanich.
Underscoring the challenge that Intel faces in the mobile market, the firm's mobile and communications group posted an operating loss of $1.04 billion on revenue of just $1 million, largely due to subsidised costs for manufacturers who use Intel chips in tablet devices.
