Intel reports solid financial results for Q3 2011

Even though the PC business seems to be slowing in terms of growth, PC processor maker Intel is still doing very well.

Today, the company announced that revenues for the third quarter of 2011 came in at $14.3 billion. That's 29 percent higher than the company's revenues from the same period a year ago and above predictions from financial analysts. Intel recorded a net income number of $3.7 billion for the quarter, up 24 percent from the same period a year ago.

Paul Otellini, Intel president and CEO, said in a statement that Intel's revenue growth was; "[...] driven largely by double-digit unit growth in notebook PCs. We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing." Intel predicts that for the current fourth quarter of 2011 it will record $14.7 billion in revenue. Intel saw its stock price soar up in after-hours trading.

Intel seems to be doing very well despite the fact that overall worldwide PC market is slowing down, thanks in part because of the poor economy but also because of the growth of both tablets and smartphones.

Intel recently announced a deal with Google that will allow Google's Android operating system to run well on Intel's x86 chips. It is also pushing for PC makers to create thin and light notebooks based on Intel's own Ultrabooks design. The first such notebooks based on Ultrabook have started to show up for sale in the US earlier this month.

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