Computer chip giant Intel last night reported a jump in quarterly profits, as its newly diversified product lineup lifted revenues to record highs.
The US tech giant said its net profit for the third quarter rose 12% from a year earlier to $3.3 billion, while revenues rose 8% to a record $14.6 billion. Both figures topped analyst forecasts.
"We are pleased by the progress the company is making," said Intel chief executive Brian Krzanich.
"We achieved our best-ever revenue and strong profits in the third quarter. There is more to do, but our results give us confidence that we're successfully executing our strategy of extending our products across a broad range of exciting new markets," the CEO added.
Intel, the longtime leader in semiconductors for personal computers, has been shifting its focus to mobile devices and connected objects, including a recently announced heart monitor which is incorporated in audio headphones.
The chip giant has also been helped by a steadier PC market, which is showing signs of stabilising after big drops in 2013.
Intel's PC division delivered revenues of $9.2 billion, up 9% year-over-year, while its cloud services showed 16% growth, at $3.7 billion.
Revenues linked to the so-called Internet of Things Group was up 14% at $530m.
