Posted on 10/15/2003 3:35:47 PM PDT by ArcLight
U.S. corporate technology purchases may not be increasing in a big way, but chipmaker Intel (INTC ) certainly isn't crying. The Santa Clara (Calif.) outfit's investment in new technology, such as wireless gear, during the long earnings downturn is boosting profits big-time.
How big? On Oct. 14, Intel reported that profits had more than doubled from a year ago. Third-quarter net income came in at $1.7 billion, or 25 cents a share, vs. $686 million, or 10 cents a share, in the same period of 2002. Revenue for the quarter was $7.8 billion, vs. $6.5 billion a year ago. The results blew past Wall Street's profit expectations of 23 cents a share.
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