Intel 4Q profit down, beats Street
NEW YORK, N.Y. - Intel, the world's largest chipmaker, says its fourth-quarter net income fell 27 per cent from the previous year, as PC sales continued to weaken.
Net income was $2.47 billion, or 48 cents per share, for the October to December period. That was down from $3.36 billion, or 64 cents per share, a year ago.
Intel beat expectations for the quarter. Analysts polled by FactSet were expecting earnings of 45 cents per share.
Revenue fell 3 per cent to $13.5 billion, matching analyst expectations. Intel is challenged by a shift in consumer spending from PCs to smartphones and tablets, most of which don't use Intel chips.
The Santa Clara, Calif., company expects about $12.7 billion in first-quarter revenue, below the analyst forecast of $12.9 billion but in line with usual seasonal variations.
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