Intel profits jump as sales pick up speed

Chip maker Intel Intel has reported first-quarter profits up 89% and revenues up 20% as global spending on information technology picked up.

The biggest chip-maker in the world said its net profits grew by 89% to $1.7bn (€1.42bn) in the first quarter of the year, compared with profits of $915m (€766m) for the same period in 2003.