Intel has cast some light on the gathering economic gloom and anounced a $2-billion profit – 12% up from last year – for the third quarter. It also expects business to remain healthy for the balance of its financial year.

Chief executive Paul Otellini comments: "We are confident that our product portfolio, strong cash flow, commitment to deploying new technology and market momentum will allow us to outpace peer companies at a time when business levels are difficult to predict."
Intel announced that its revenue for the quarter was $10,2-billion, 1% higher than last year.
It predicts that sales in the fourth quarter would be between $10,1-billion and $10,9-billion.