Intel Delivers Record Q3 Results, Astounds Wall Street

October 22 00:00 2011

New York, Oct 22, 2011 (RainbowNewsLine.com) – Intel has delivered exceptional third quarter results for any technology based company. Intel has recorded revenue growth to the tune of 28%. This has been supplemented by the fact that Intel Corporation touched $14 billion in revenue which is its highest ever. The stock market was very bullish about this announcement. Within hours on Intel announcing the result, its stocks were trading at 5.5% higher in the market.

It is heartening to know that Intel’s growth was not lopsided like most of its competitors. Intel garnered growth from all lines of business including data centers and cloud computing. The management at Intel was also very confident about the 4th quarter results. They signaled that Intel was likely to post $14.7 billion in revenues.  The company also made huge dividend payments to the tune of $1.1 billion. It also has accumulated a cash balance of $14.2 billion which is huge by any standards.

Intel is also sending positive signals to the market. It has already purchased its own stock worth $4 billion from the open market. The company has expanded the buyback kitty to $10 billion recently signaling to the market that Intel feels its stock is undervalued.

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