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Intel surprised markets with 58% profit growth

The American company Intel surprised markets with a stronger than expected report for the third quarter. Because of the good results of the company leaders announced that they expect strong performance in the last three months of the year, mainly because of demand from emerging markets. Intel's profit for the third quarter amounted to 2.96 billion dollars, or 52 cents a share. This is an increase of 58% annually compared to results from the third quarter of last year when the company's profit was 1.86 billion dollars, or 33 cents a share. The revenue also reported growth, increasing by 18% yoy to 11.1 billion dollars. The expectations of analysts was for earnings of 50 cents per share on a revenue of 10.99 billion dollars. For the last three months of the year, Intel executives expect revenue in the 11.0 to 11.8 billion dollars, but analysts estimated the company will achieve revenues of 11.32 billion dollars. "Looking forward, we continue to see strong demand for computer components of all kinds and are very hopeful about our new series processors," said Intel CEO Paul Otellini.
In yesterday's trading session shares of Intel rose 1.1 percent to 19.77 dollars a share.