Intel's results come just a week after competitor AMD said it plans to split into two companies, one to design chips and one to make them, in an effort to compete more effectively with Intel. AMD, which plans to release its third-quarter earnings report on Thursday, has reported losses in the past seven quarters.

Intel executives downplayed the effect they think will come from AMD’s announcement. “Nothing has changed,” Otellini said. Ultimately, someone has to raise capital, build factories, develop technologies and sell them to companies that sell products to customers, he said. “So, the food chain hasn’t really changed,” he said.

Owning both design and manufacturing is a competitive advantage for Intel, said Stacy Smith, Intel's chief financial officer. “It lets us bring low-power, low-cost, high-performance products to market,” he said.