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Intel Profit Drops

by Steve Gibson, Oct 16, 2001 1:50pm PDT
Related Topics – Intel

Oh my this one isnt pretty. Intel Corp has just announced that their company net revenue has dropped 77 percent for the quarter. They are projecting a pretty respectable 4th quarter but dont offer up a heck of a lot of explanation on the huge drop for this quarter:

Intel (Nasdaq:INTC - news) said that net income before acquisition-related costs fell to $655 million, or 10 cents a share, from $2.89 billion, or 43 cents, a year ago, which included 7 cents a share in acquisition-related costs. Sales declined 25 percent to $6.5 billion from $8.73 billion.
The AMD earnings conference is scheduled for tomorrow.




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