Intel's Net Income Nearly Doubles

Intel, the world's largest chipmaker, is viewed as a leading indicator for the technology industry, and its financial results often are seen as reflecting the health of the overall business-technology market. If that's true, the industry is in good shape.

For the three months ended June 30th, Intel's revenue was $8 billion, up 18% from a year ago. Net income was $1.8 billion, a jump of 96% from the $896 million reported in the same quarter a year earlier. Earnings per share were 27 cents, an increase of 93% from the 14 cents a share in the second quarter of 2003.

Intel CEO Craig Barrett said in a statement that flash-memory sales in its communications business grew nicely. He also said that Intel would invest in and expand even more into chipsets, flash, and other communications products in the current quarter.