Intel looked less lumbering and more revitalized in its third quarter. The chip maker boosted revenue 15 per cent to $10.1bn. It also pumped net income higher by 43 per cent to $1.9bn. That's a healthy chunk of change to keep on hand for a rainy day.

It was not too long ago that AMD was wreaking havoc on a bloated, lethargic Intel. Over the past year and a bit, however, Intel has revamped its product line to show better performing chips that consume less power. In addition, the company laid off thousands of workers.

Mobile processors, for example, accounted for $2.8bn in revenue this quarter, which compares to $2.2bn in the same period last year. Meanwhile, PC and server chip sales increased to $3.9bn from $3.5bn.

The rising demand for Intel processors did not stop the company from keeping a price war of sorts in play against AMD. Intel's average selling price for products remained flat during the quarter.

Still, Intel managed a significant rise in gross margins to 52.4 per cent - up from 46.9 per cent in the immediately prior quarter - thanks to higher chip shipments and lower manufacturing costs.

Looking forward, Intel expects revenue between $10.5bn and $11.1bn in the fourth quarter.

Investors seemed happy enough with Intel's results and outlook, sending shares up close to five per cent in after-hours trading to $26.70 at the time of this report. ®