And Intel joins the ranks of the economically disadvantaged

Intel released its quarterly earnings report today, which revealed a 90% drop in profits compared to the same quarter last year. I’m no economy major, but if I try to work through the jargon I believe they’re saying that their profits dropped by 90% over a year period.

Considering how much of a lead they have on rival AMD (also hurting) and the immense popularity of Atom-based netbooks, this comes as a surprise to me, though apparently not to industry analysts. Must be all them books an’ learnin’ they got!

Total revenue is down by a fifth, from $10.7bn during 4th quarter last year to $8.2bn this year. Costs appear to have remained static, as the loss in total revenue is similar to the loss in profit. They are predicting revenue to fall next quarter to $7bn-ish, which means they’ll either have to cut costs to stay profitable, or take the hit.