Intel Reports Third-Quarter Revenue of $13.5 Billion

"Our third-quarter results reflected a continuing tough economic environment," said Paul Otellini, Intel president and CEO. "The world of computing is in the midst of a period of breakthrough innovation and creativity. As we look to the fourth quarter, we're pleased with the continued progress in Ultrabooks and phones and excited about the range of Intel-based tablets coming to market."

Q3 2012 Key Financial Information and Business Unit Trends (GAAP, unless otherwise stated)

PC Client Group revenue of $8.6 billion, flat sequentially and down 8 percent year-over-year
Data Center Group revenue of $2.7 billion, down 5 percent sequentially and up 6 percent year-over-year
Other Intel® architecture group revenue of $1.2 billion, up 6 percent sequentially and down 14 percent year-over-year
Gross margin of 63.3 percent, 1.3 percentage points above the midpoint of the company's updated expectation of 62 percent.
R&D plus MG&A spending $4.6 billion, unchanged.
Tax rate of 24 percent, below the company's expectation of approximately 28 percent.

Business Outlook

Intel's Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures or other investments that may be completed after Oct. 16.

Q4 2012 (GAAP, unless otherwise stated)

Revenue: $13.6 billion, plus or minus $500 million.
Gross margin percentage: 57 percent and 58 percent Non-GAAP (excluding amortization of acquisition-related intangibles), both plus or minus a couple of percentage points.
R&D plus MG&A spending: approximately $4.5 billion.
Amortization of acquisition-related intangibles: approximately $75 million.
Impact of equity investments and interest and other: approximately $75 million.
Depreciation: approximately $1.6 billion.
Tax Rate: approximately 27 percent.
Full-year capital spending: $11.3 billion, plus or minus $300 million.

For additional information regarding Intel's results and Business Outlook, please see the CFO commentary at: www.intc.com/results.cfm.

Source: Intel Corporation