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Intel Profits Slump

Intel’s first quarter profits are down 82 percent.
The company earned $485 million on revenue of $6.6 billion in the quarter, down from earnings of $2.7 billion on revenue of $7.99 billion in the same period one year ago. Though significantly down from last year, the results were still slightly ahead of company estimates. Intel warns that the effects of the economic slowdown will likely be felt for months to come.

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