Intel profit up 15 percent

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Intel profit up 15 percent

Intel on Tuesday reported a 15 percent rise in quarterly profit on an improved personal computer business, and gave an outlook that helped reassure jittery investors it could grow despite tough market conditions.

Shares of Intel, which had fallen in recent days on fears that the company would report disappointing results even after cutting its revenue forecast last month, rose more than 3 percent in after-hours trade.

Earnings in the third quarter ended Sept. 25 were $1.91 billion, or 30 cents a share, compared with a year-earlier profit of $1.66 billion, or 25 cents a share. Revenue rose to $8.47 billion from $7.83 billion last year.

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