Intel (INTC) Trades Higher Following Solid Q3 Results

Shares of Intel (Nasdaq: INTC) are up 5% after-hours after reporting modestly better-than-expected Q3 results in a difficult environment. With shares of Intel down 24% since its last quarterly report, investors are cheering the quarter.

Intel reported Q3 EPS of $0.35, 1 cent better than the analyst estimate of $0.34 and up 17% from last year. Revenues rose 1% from last year to $10.2 billion, versus the consensus of $10.26 billion. Gross margin was 58.9% and Net Income was up 12%.

Intel said its microprocessor and chipset units both set records. They also said revenue from Intel Atom microprocessors and chipsets into the new netbook and nettop segments was approximately $200 million.

Looking into Q4, Intel sees sales of $10.1-$10.9 billion, versus the consensus of $10.77 billion and Q4 margins of 59% plus or minus a couple of points.

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