Intel executives in August warned that weakening consumer PC sales in the third quarter threatened what had been an extremely strong year for the company.
However, corporate spending on technology helped Intel revenues increase to $11.1 billion, a new high-water mark for the company. Revenues grew 18 percent in 3Q 2010 compared with the same period last year, while 3Q 2010 earnings rose to $2.96 billion from $1.86 billion in 3Q 2009.
Despite weak consumer spending, Intel's 3Q 2010 results continued a string of record-setting quarters, fueled by sales in its traditional PC and server processor businesses as well as the company's growing initiatives in new areas such as embedded systems and mobile devices.
For more, read the eWeek article Intel Revenues Exceed $11 Billion in Third Quarter.