Intel has adapted well to the recession, according to Otellini, through "disciplined execution and agility." It launched new Nehalem server chips during the quarter, as well as new Atom chips, and revised its manufacturing road map with a faster shift to 32-nanometer production.

The server chip launch was significant as it was the single largest increase in server performance that Intel has delivered, Otellini said. Over 230 server designs from server makers are now ready to ship, he said. Intel expects to ship its 1 millionth chip based on the Nehalem microarchecture this week, which includes the Core i7 and Xeon 5500 Nehalem chips.