Intel reported a drop in profits and revenue for the first quarter, as the biggest PC market slump in recent memory weighed on its business. Intel reported a profit of $2.05 billion for the quarter ended March 30, down 25 percent from a year earlier. Revenue was $12.6 billion, Intel said, a drop of 2.5 percent.About two-thirds of Intel's revenue comes from its PC client group, which makes chips for laptops and desktops. Revenue from that division was down 6 percent year on year, to $8.0 billion.