Intel reports 4.6% rise in profit

Intel Corporation has reported a rise in profits amid strong demand for chips used in laptop computers.

The company said its third-quarter net income rose 4.6% to $1.995bn (€1.679bn).

Revenue grew 17.6% to $9.96bn (€8.38bn).

Paul Otellini, Intel president and chief executive said: "In the third quarter, we achieved all-time records in company revenue and unit shipments across all of our major product lines".

For the quarter ended October 1, the chip giant's gross margin came in at 59.7% of sales, just below the company's target of 60%.