Intel first quarter profit jumps 400-plus percent

From CNET News.com: Intel on Tuesday reported a first-quarter profit that jumped more than 400 percent over the same period last year, citing strong demand for laptop chips.

The chipmaker's profit was $2.4 billion, or 43 cents per share, up 433 percent from the same period last year. Analysts were expecting a profit of 38 cents per share.

First-quarter revenue was $10.3 billion, up 44 percent over the same quarter a year ago.

Paul Otellini, Intel president and CEO, said it was Intel's best first quarter ever.

"Consumer and corporate are spending more on on horsepower. They're buying high-priced machines in a time that you would think budgets would be tight," said Doug Freedman of Broadpoint AmTech.

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