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Intel posts $2bn profit for Q2

Intel has posted a 16% year-on-year increase in net profit from a 15% increase in sales for the second quarter.

Intel has posted a 16% year-on-year increase in net profit from a 15% increase in sales for the second quarter.

Sales were $9.2bn (£5.25bn), which generated a $2bn net profit. Sales were helped by strong chip growth in the laptop market, according to Intel.

Intel chief executive officer Paul Otellini said further growth in the second half of the year would be fuelled by the increased production of dual-core PC chips, designed to give users greater data processing power on their machines.

Intel is currently in dispute with the US Internal Revenue Service over the way it implemented tax benefits on export sales between 1999 and 2002. 

Intel is appealing against an IRS decision on these benefits. It says it will have to pay an extra $400m in tax plus interest if it loses the appeal for past export sales in 2001 and 2002 alone. 

Intel is also currently being investigated by the European Commission over allegations that it has acted in an anti-competitive way in Europe, and faces an ongoing competition lawsuit brought by smaller rival AMD.

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