Intel beat analyst expectations in what was an otherwise dismal second quarter, with net income down 76 percent from a year ago.

In a statement released Tuesday, the chipmaker reported net income, excluding acquisition-related costs, of $854 million, or 12 cents a share. Analysts polled by First Call expected 10 cents a share. The earnings figure was a 76 percent drop from the same period a year ago and a 22 percent decline from the first quarter of 2001.

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