Intel gave a record current-quarter revenue forecast and said demand for personal computers recovered. The company today reported third-quarter revenue of $14.6 billion, operating income of $4.5 billion, net income of $3.3 billion and EPS of $0.66. The company generated approximately $5.7 billion in cash from operations, paid dividends of $1.1 billion, and used $4.2 billion to repurchase 122 million shares of stock.

"We are pleased by the progress the company is making," said Intel CEO Brian Krzanich. "We achieved our best-ever revenue and strong profits in the third quarter. There is more to do, but our results give us confidence that we’re successfully executing to our strategy of extending our products across a broad range of exciting new markets."

During Q3, Intel's PC Client Group revenue was up 6 percent sequentially and up 9 percent year-over-year. The company's Data Center Group revenue was also up 5 percent sequentially and up 16 percent year-over-year. On the other hand, Internet of Things Group revenue was down 2 percent sequentially while Intel's Mobile and Communications Group revenue was "consistent with expectations." Intel said its mobile and communications group had an operating loss, reflecting subsidies Intel has been paying to persuade tablet makers to use its chips. Finally, Intel's software and services operating segments revenue was up 2 percent sequentially and up 2 percent year-over-year.

Intel said it expects fourth-quarter revenue of $14.7 billion, plus or minus $500 million.