Business Journal: Intel's Profits Down
The Intel Corporation reported a big drop in earnings Tuesday.
Tuesday, January 16, 2007
The Intel Corporation is watched closely by many in Sacramento, because it’s one of the region’s largest employers. Their fourth-quarter earnings report, just out, shows a 39% drop in profits from the same period a year earlier – a profit of about $1.7 billion dollars, excluding one-time charges. That did beat analysts’ expectations. For the year, the drop in earnings was the same 39%. Intel continues with plans to eliminate 10,000 positions worldwide … and has so far shed about 500 positions at its Folsom campus.