Intel rebounds in third quarter

The chip-maker beats third-quarter expectations with surprisingly high sales and profits.

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While its third-quarter results were still down from the same period last year, Intel trumped expectations in both sales and profits.

“We are very pleased with the company’s third quarter,” chief executive Paul Otellini boasted on a conference call with investment analysts. “The strong financial performance is a result of having the right products at the right cost at the right time for a recovering global economy.”

Still, Intel’s third-quarter results remain 8% below the same period last year. And the company said the market for massive, corporate computers remains weak, underscoring the depth and breadth of the recession.

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