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  Intel profits down 82%
Time: 00:32 EST/05:32 GMT | News Source: VIAHardware.com | Posted By: Tegument

Intel announced their earnings for the first quarter today. Net revenue is down 82% over the first quarter of 2000, with a mere 485 million (!) in profit. None the less, Intel was able to beat expectations by 1 cent, paying shareholders 16 cents per share. Intel, of course, is blaming the downturn in profits on the poor market. Although this is a large part of the problem, AMD recent success has also hurt the mircoprocessor giant. By some accounts, AMD has taken a full 4% of the processor market away from Intel in the past quarter. Intel is scheduled to cut P4 prices by up to 50% at the end of this month, to make room for the new 1.7GHz P4. But Intel needs to realize its platform prices, not processor prices, that are holding back P4 sales.
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