The Wall Street mayhem seems to have spared tech firms, at least that’s the case with Intel. The company has posted a third-quarter revenue of $10.2 billion – a new record for the company.
According to an Oct. 14 news release, the company reported a pretax net income of $2.01 billion, up from $1.79 billion in the year-ago quarter. The earnings per share (EPS) are reported at 35 cents, up from 30 cents in the year-ago quarter.
“Intel delivered the best third-quarter revenue in its history. We are solidly profitable, with operating income of over $3 billion, reflecting strong across- the-board execution and best-of-class products”, said Paul Otellini, Intel President and CEO.
With total assets of $52.72 billion, the semiconductor giant stands firm and stable while the financial markets are taking a severe beating.
“As we look to Q4, it is hard to know what impact the financial crisis would have on end customer demand. We are confident that our product portfolio, strong cash flow, commitment to deploying new technology and market momentum will allow us to outpace peer companies at at time when business levels are difficult to protect,” Otellini added.
Now let’s see what are the earning trends of other tech companies as they are about to announce their financial results in a few days. We also have to keep in mind that the financial bubble has just burst and its impacts on these firms will be visible in the fourth quarter. The annual reports will portray the real picture.