Intel 4Q profit down, beats Street
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.
For the full year, Intel is forecasting a revenue percentage increase in the low single digits, in line with Wall Street's 2 percent expectation.
Intel shares fell $1, or 4.4 percent, to $21.68 in afterhours trading, after the release of the results. That more than wiped out the day's gain of 57 cents in regular trading.
For the full year, Intel earned $11 billion on $53.3 billion in revenue. Both figures were down slightly from the year before, when it earned $12.9 billion on $54 billion in revenue.