Intel profits up 43 per cent

Intel's quarterly profits are up 43 per cent

Intel's net income rocketed 43 per cent to $1.9bn (£934m) in the third quarter, up 43 per cent on last year.

Operating income shot up 64 per cent to $2.2bn (£1.1bn) while sales for the period reached $10.1bn (£4.97bn), a 15 per cent rise.

The chip giant's results were boosted by record sales of microprocessors. Revenue from the company's mobility and digital enterprise group rose 14 per cent, while sales of chipsets and related products jumped 19 per cent.

"We are very pleased with the results and optimistic about our business,” said chief executive Paul Otellini.

Intel now forecasts revenue of between $10.5bn (£5.2bn) and $11.1bn (£5.5bn) for the fourth quarter of 2007.