Intel (INTC) Stock Falls on Earnings, Lower Guidance
Shares of Intel Corp. (INTC) were trading down -1.10 or -4.14 percent to $25.45 per share in pre-market trading on Friday after the company announced fourth quarter earnings, which came out on average in line with expectations. The company also revised its guidance for the yearâ s first quarter slightly below analyst expectations.
Intel stock closed down -0.13 or -0.49 percent to $26.54 per share in Thursdayâ s regular trading session.
Santa Clara, California based Intel Corporation is the worldâ s largest maker of semiconductor chips by revenue. Founded in 1968, the company owns a slew of important patents for microprocessors and processors used in most personal computers including the x86 microprocessor series and the Pentium processor. Intel invented the worldâ s first commercial microprocessor in 1971. Intel reported net income of $2.63 billion, or $0.51 per share for the fourth quarter, compared to $2.47 billion or $0.48 per share in the same quarter one year ago, an improvement of +6.4 percent. Revenue for the quarter came to $13.8 billion on operating income of $3.5 billion. Cash from operations came to $6.2 billion, paid out $1.1 billion in dividends and paid $528 million to repurchase 22 million shares of stock. For the entire year, Intel generated revenue of $52.7 billion, operating income of $12.3 billion, net income of $9.6 billion and total earnings per share of $1.89. For the year, the company generated approximately $20.9 billion in cash from operations, paid dividends of $4.5 billion, and paid $2.1 billion to buy back 94 million shares of its own stock. In the companyâ s press release, Intel CEO Brian Krzanich said that "We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago," he continued, â
Published on Jan 17, 2014
By Jay Hawk