Chip maker Intel today beat analysts’ estimates for financial results in the third quarter of this year, coming up with $3.1 billion in net income, or 64 cents in earnings per share, and $14.5 billion in revenue.
Analysts were expecting 59 cents in earnings per share on $14.22 billion in revenue.
Revenue for Intel’s Client Computing Group — the company’s biggest operating segment, which includes PCs and mobile and communications devices — was down 7 percent year over year for the quarter, coming in at $8.5 billion. Intel had gains in its Data Center and Internet of Things groups. The full earnings release is here.
“We executed well in the third quarter and delivered solid results in a challenging economic environment,” Intel chief executive Brian Krzanich said in a statement. “The quarter demonstrates Intel innovation in action. Customers are excited about our new 6th Gen Intel Core processor, and we introduced our breakthrough 3D XPoint™ technology, the industry’s first new memory category in more than two decades.”
Intel repurchased $1 billion worth of company stock in the quarter, according to the statement.
This quarter included a news event that should lead to major impact for Intel: the launch of Microsoft’s Windows 10 operating system. Acer, Asus, HP, and Toshiba, among others, have come out with Windows 10 PCs.
Intel launched its 6th Gen Intel Core processors — codenamed Skylake — at the beginning of September. Also in the quarter, the company promoted its RealSense camera technology on a few occasions and also demonstrated 3D XPoint memory.
For the fourth quarter of 2015, Intel is forecasting $14.8 billion in revenue, plus or minus $500 million, and $7.3 billion in capital spending, plus or minus $500 million, for the full year.
Intel stock was up less than 1 percent in after-hours trading following the earnings release.
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