Cloud computing growth powers Intel’s strong Q3

Grazed from DomainB. Author: Editorial Staff.

Intel comfortably beat Wall Street estimates on revenue and earnings per share in its third quarter report yesterday, with growth of cloud computing. However profit at $3.1 billion was down 6 per cent from $3.3 billion a year ago. CEO Brian Krzanich said he saw the slumping market for personal computers ”beginning to stabilize” even as the growing needs of the infrastructure that powered the smart and connected world continued to add to Intel’s bottom line.

The chip giant faced challenges in several areas, with a weak market for PCs adding to economic woes in China, a major market, but had balanced that downtrend with growth in sales of chips to data centers, in the Internet of Things business and in memory chip sales.

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