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Intel records $2.9bn profit in record quarter

Intel - massive profits
Intel - massive profits

Intel has announced its best ever quarter, putting a $2.9 billion (£1.91bn) profit down to healthy PC and server markets and its own 'leading-edge' technology.

The chip giant increased profits from the last quarter by a whopping $445 (£293m) and reporting revenue of $10.8 billion (£7 billion).

The Core ranges have proven to be popular in desktops and, perhaps more importantly, the still-buoyant laptop arena, while Atom has become the key player in netbooks.

Strong demand

But corporate customers were credited with the huge profits reported, in a 34 per cent increase in revenue.

"Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company's 42-year history," said Paul Otellini, Intel president and CEO.

"Our process technology lead plus compelling architectural designs increasingly differentiate Intel-based products in the marketplace.

"The PC and server segments are healthy and the demand for leading-edge technology will continue to increase for the foreseeable future."

Not bad, especially considering the company is still paying off the massive European Commission fine.