Intel has just announced its Q3 2012 earnings, with reported revenues of $13.5 billion representing a five percent decline from the $14.23 billion the company earned one year ago. Despite the slight dip, Intel's revenue and earnings per share (EPS) both beat out the analysts estimates. Business Insider is reporting estimates of $13.23 billion in revenue and $0.50 per share; actual EPS for the quarter was $0.58, down from $0.65 in the year-ago quarter. The decline in revenue was driven by the PC client group's revenue of $8.6 billion, which was down eight percent year-over-year, and the "other" Intel architecture group's revenue of $1.2 billion, which was down 14 percent year-over-year. Intel's data center group was a highlight, with revenues of $2.7 billion representing a six percent increase year-over-year.

In a statement, Intel CEO Paul Otellini said that his company's results "reflected a continuing tough economic environment." While we unfortunately haven't heard any word on the company's first venture into the smartphone market, Otellini did say, "we're pleased with the continued progress in Ultrabooks and phones and excited about the range of Intel-based tablets coming to market." We'll be listening in to Intel's Q3 earnings call, which starts at 5 p.m. ET, and we'll update here with any more details that come out of it.

Update: Intel just finished up its investor call, and unfortunately there was very little discussion of the company's move into mobile — the only thing Otellini had to say was that Intel was "continuing to make progress in handhelds." He did have plenty to say about the upcoming Windows 8 onslaught, noting that Intel expected to see more than 140 Core-based ultrabooks, 40 of which would be touch-capable. Of those, a dozen or so would be "convertibles" — the laptop-tablet hybrid we're starting to see so much of. He also addressed whether the ongoing weakness in the PC market was a result of the rise of tablets or consumers waiting for Windows 8.

Otellini acknowledged that there are a lot of new variables to account for, but it was too soon to say whether PCs would return to previous growth levels or whether tablets were permanently impacting the market. "We honestly won't know for 12 months," Otellini admitted. He did say that he's "very excited" about Windows 8, saying that it'll bring "touch into the mainstream for the first time." While it's too soon to tell whether or not consumers will embrace the new paradigms that Windows 8 brings to the table, Otellini said that he's "very optimistic." He even revealed a bit of frustration with the forecasting of whether or not consumers would adopt Windows 8, saying "the darn thing hasn't even launched yet" — but obviously Intel is hoping it'll be a hit.