Intel Profit Drops
by Steve Gibson, Oct 16, 2001 1:50pm PDTOh 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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Comments
net revenue has dropped 77 percent for the quarter.
The article says profit fell 77%, but revenue fell "only" 25%. BIG DIFFERNECE!
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In a couple years, processors are going to be fast enough to be able to handle real-time voice recognition, and then sales to businesses will take off again.
Expect to see AMD in the red tommorrow. :(
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Intel, which has been buffeted this year from weak demand and competitive pressure from rival Advanced Micro Devices Inc....
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