Chip maker Intel, one of Ireland's biggest multi-national employers, has reported better than expected revenue and profits for the second quarter of this year.
The firm's net profit was $2.9 billion, which compares with a $389m loss recorded in the same period last year. That loss was attributed to a $1.4 billion fine imposed on the company by the European Commission. Earnings per share of 51 cents topped the 43 cents predicted by analysts.
Intel's revenue jumped by 34% from a year earlier to $10.8 billion, better than analysts had expected and better than the company's own prediction three months ago.
The chip maker has estimated its revenue in the third quarter will be in the range of $11.2 billion to $12 billion, exceeding the $10.9 billion expected by analysts.
'Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company's 42-year history,' Intel president and chief executive Paul Otellini said. He described the PC and server markets as 'healthy' and said demand for technology would continue to increase.
