Intel's first quarter profit nearly quadruples

Intel had an excellent first quarter, the company reported a net income of $2.4 billion, or 43 cents per share, on a revenue of $10.3 billion. This compares to a profit of 11 cents per share on a revenue of $7.1 billion in the same quarter the year before, and is better than analyst expectations of earnings of 38 cents per share on revenue of $9.8 billion. For the current quarter, Intel said it expects revenue of $10.2 billion, plus or minus $400 million.

SANTA CLARA, Calif., Apr. 13, 2010