Chip manufacturer Intel said yesterday that the jump in revenues it experienced between the second and third financial quarters of its financial year – up 17% to $9.4 billion – was the steepest in 30 years.

The announcement will be seen as a positive sign of the state of the IT industry, as chip sales are considered a lead indicator for adoption of all kinds of system.

However, the company’s quarterly revenue was still significantly lower than it was a year ago: down 9% from $10.2 billion.

The sequential revenue hike was driven by a 19% quarter-to-quarter revenue increase to $4.1 billion for the company’s mobility division.

Intel estimated that its revenues would be around $10.4 billion in the fourth quarter of the year.