Intel Corp. (NASDAQ:INTC) reported a 17 percent increase in third quarter net income and a 28 percent increase in revenue after the market closed on Tuesday. The company attributed the strong quarter to stronger chip sales for laptop PC’s and computer servers.
The company said that for the three months period it earned a net income of $3.47 billion, or 65 cents per share, up from the $2.96 billion, or 52 cents per share that it reported during the same quarter last year. Excluding one time items that figure would have stood at 69 cents per share, topping analyst on average expectations of 62 cents per share.
Revenue was reported at $14.2 billion, up from $11.1 billion last year and ahead of Wall Streets estimates of $13.9 billion.
Intel Corp. (NASDAQ:INTC) closed 0.52 percent higher on Tuesday at $23.40 per share.
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