Chip maker Intel, which employs more than 5,000 people in Ireland, last night said its first-quarter profits rose 18.6% from a year earlier to $1.61.
Earnings excluding a once-off tax benefit amounted to 22 cents per share, in line with Wall Street estimates. But revenues fell 1% compared with the same quarter in 2006 to $8.9 billion.
The world's biggest computer chip maker has been in a fierce price war with rival Advanced Micro Devices that has forced Intel to slash its workforce and take other belt-tightening steps.
The company said it reached its goal of reducing the workforce to about 92,000, one quarter ahead of schedule. Intel also recently announced plans for a big facility in China.
For the second quarter, Intel said it expected revenues of $8.2 billion to $8.8 billion.
