Intel Q3 results beat expectationsAN FRANCISCO, Oct. 16 (Xinhua) -- Intel on Tuesday posted declines in sales and profit in the third quarter of 2012, but the results still beat analysts' expectations.
The company said its revenue came in at 13.5 billion U.S. dollars in the quarter, down 5 percent from the same period a year earlier.
It also reported a quarterly net income of 3 billion dollars or earning per share of 58 cents, representing decreases of 14 percent or 11 percent respectively year over year.
Analysts were expecting Intel to report earnings per share of 50 cents on revenue of 13.2 billion dollars, according to a survey by FactSet.
As the world's largest computer chip maker, Intel's results were reflections of the difficulty faced by the personal computer (PC) industry as more and more consumers are choosing to buy tablets and smartphones, many of which don't use Intel chips.
Revenue of Intel's PC Client Group, its largest business division by sales, fell to 8.6 billion dollars, a decline of 8 percent compared to the year-ago quarter.
Global PC market is expected to contract by 1.2 percent in 2012, the first decline in 11 years, market research firm IHS warned earlier in October.
Intel has been promoting the Ultrabook, a category of thin and high-end notebook computer, as a way to boost the slumping PC market and sales of its chips.
"Our third-quarter results reflected a continuing tough economic environment," Paul Otellini, Intel's chief executive officer, said in a statement.
"The world of computing is in the midst of a period of breakthrough innovation and creativity. As we look to the fourth quarter, we're pleased with the continued progress in Ultrabooks and phones and excited about the range of Intel-based tablets coming to market," he added.