Intel Q3 profit up 12% to $2B

Intel Corp. on Tuesday reported third quarter net income of $2 billion, or 35 cents a share, compared with $1.8 billion, or 30 cents a share, in the same period last year.

Santa Clara-based Intel (Nasdaq: INTC) had $10.22 billion in revenue, up slightly from the year-ago quarter's $10.1 billion last year.

Analysts had expected, on average, earnings of 34 cents a share on revenue of $10.25 billion.

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"Intel delivered the best third-quarter revenue in its history," said Paul Otellini, Intel president and chief executive officer. "We were solidly profitable, with operating income of over $3 billion, reflecting strong across-the-board execution and best-of-class products."

Looking ahead, Otellini said, "it is hard to know what impact the financial crisis will have on end customer demand. We are confident that our product portfolio, strong cash flow, commitment to deploying new technology and market momentum will allow us to outpace peer companies at a time when business levels are difficult to predict."

Intel employs about 6,000 people in Folsom.