Intel: 4Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Intel Corp. (INTC) on Thursday reported fourth-quarter net income of $5.2 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Santa Clara, California-based company said it had net income of $1.12. Earnings, adjusted for one-time gains and costs, were $1.28 per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The world’s largest chipmaker posted revenue of $18.66 billion in the period, which did not meet Street forecasts. Twelve analysts surveyed by Zacks expected $19.01 billion.
For the year, the company reported profit of $21.05 billion, or $4.48 per share. Revenue was reported as $70.85 billion.
For the current quarter ending in April, Intel expects its per-share earnings to be 87 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.
The company said it expects revenue in the range of $16 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $17.27 billion.
Intel expects full-year earnings to be $4.60 per share, with revenue expected to be $71.5 billion.
Intel shares have increased 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 5 percent. In the final minutes of trading on Thursday, shares hit $49.76, an increase of slightly more than 9 percent in the last 12 months.