Intel signalled a strong holiday sales season for the computer industry on Tuesday, with third-quarter earnings well ahead of Wall Street expectations.
The world's biggest chipmaker showed that its business was recovering quickly from the recession, with revenues down only 8 per cent on a year earlier, compared to 15 per cent and 26 per cent declines in the second and first quarters.
“Intel's strong third-quarter results underscore that computing is essential to people's lives, proving the importance of technology innovation in leading an economic recovery,” said Paul Otellini, Intel chief executive, in a statement.
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