Chip maker Intel today beat analysts’ estimates for financial results in the third quarter of this year, coming up with $3.1 billion in net income, or 64 cents in earnings per share, and $14.5 billion in revenue.
Analysts were expecting 59 cents in earnings per share on $14.22 billion in revenue.
Revenue for Intel’s Client Computing Group — the company’s biggest operating segment, which includes PCs and mobile and communications devices — was down 7 percent year over year for the quarter, coming in at $8.5 billion, according to today’s earnings statement. Intel had gains in its Data Center and Internet of Things groups.
Net income for the quarter was down 6 percent year over year. Intel repurchased $1 billion worth of company stock in the quarter, according to a statement on the news.
“We executed well in the third quarter and delivered solid results in a challenging economic environment,” Intel chief executive Brian Krzanich said in the statement. “The quarter demonstrates Intel innovation in action. Customers are excited about our new 6th Gen Intel Core processor, and we introduced our breakthrough 3D XPoint™ technology, the industry’s first new memory category in more than two decades.”
This quarter included a news event that should lead to major impact for Intel: the launch of Microsoft’s Windows 10 operating system. Acer, Asus, HP, and Toshiba, among others, have come out with Windows 10 PCs.
Intel launched its 6th Gen Intel Core processors — codenamed Skylake — at the beginning of September. Also in the quarter, the company promoted its RealSense camera technology on a few occasions and also demonstrated 3D XPoint memory.
For the fourth quarter of 2015, Intel is forecasting $14.8 billion in revenue, plus or minus $500 million, and $7.3 billion in capital spending, plus or minus $500 million, for the full year.
Intel stock was up less than 1 percent in after-hours trading following the earnings release.