Positive Intel results boost industry

The world's biggest chip maker posted its best-ever quarterly results, according to the company

Intel's results exceeded analyst expectations

Intel posted record second-quarter results as a result of strong corporate demand and IT refresh programmes following the global recession.

The company posted net profit of $2.9bn (£1.9bn) for the quarter to 26 June, compared with a loss of $398m a year ago.

Market rises were visible following the announcement, with Japan's Nikkei index and the FTSE 100 Index growing.

Intel shares jumped five per cent in extended trading in New York following the announcement.

The firm also predicted improved revenue of $11.6bn for the next quarter.

Paul Otellini, Intel president and CEO, said: "The PC and server segments are healthy and the demand for leading-edge technology will continue to increase for the foreseeable future."