Intel shares boosted by 17% rise in quarterly profits

Intel shares rose 4% after the chipmaker reported a 17% gain in third-quarter profits.

Intel's net income for the three months to September was $3.47bn (£2.2bn) compared with $2.96bn last year.

The figures beat market expectations and defied concerns that global demand for PCs and laptops has been hit by growing sales of tablets.

Intel's chips are used in four-fifths of the world's PCs but the firm has yet to succeed in the mobile market.  More Read