Intel's first quarter profits better than expected

Intel’s first quarter profits better than expected
Tom Foremski
Intel reported better than expected profits for its fiscal first quarter but sales were lower than expected.
Intel reported net income of $2bn up 36 per cent from $1.3bn for the same period last year. The company warned that second quarter sales will be flat or slightly lower than first quarter results because of an expected seasonal slowdown.
The closely watched financial results are considered a key bellweather for the PC market as a whole and are carefully scrutinised by analysts for signs of weakness in PC markets. Intel said that the PC market remains very competitive and that there is no major negative sales trend.
The company added that sales in Japan rose for the first time since the second quarter of 1997 and that it has managed to move its new Pentium III microprocessor family into volume production faster than any of its previous microprocessors.

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