Intel posts $3 bn quarterly net profit

NEW YORK: US computer chip giant Intel posted a quarterly net profit of nearly three billion dollars on Tuesday and record revenue of more than 11 billion dollars.

The Santa Clara, California-based technology bellwether reported third-quarter revenue of 2.95 billion dollars, up from 1.85 billion dollars during the same quarter a year ago.

Revenue rose 18 percent during the quarter to 11.1 billion dollars. "Intel's third-quarter results set all-time records for revenue and operating income," Intel president and chief executive Paul Otellini said.

"These results were driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets," Otellini said in a statement.

"Looking forward, we continue to see healthy worldwide demand for computing products of all types and are particularly excited about our next-generation processor, codenamed Sandy Bridge, and the many new designs around our Intel Atom processors," he said.