Intel profits fall short of expectation
Intel has reported its fourth financial quarter results with the headline numbers reading nicely - the company posted a 51 per cent profit with USD 2.28 billion net income, USD 10.7 billion revenue and 38 cents per share earnings.
Intel has reported its fourth financial quarter results with the headline numbers reading nicely - the company posted a 51 per cent profit with USD 2.28 billion net income, USD 10.7 billion revenue and 38 cents per share earnings.
However, that didn't meet investors' expectations, with analysts averaging estimates previously of USD 10.8 billion in revenue and 40 cents per share earnings.
The company's stock subsequently fell pre-market by 12 per cent from USD 22.60 to USD 19.96.
In a company statement Intel's president and CEO, Paul Otellini, was upbeat: "2007 was a breakthrough year for innovation at Intel. We realized the benefits of our investments in new products and our efforts to drive efficiencies.
"Our customers embraced the Intel Core microarchitecture, extending our competitive leadership and driving a significant gain in operating results. We enter 2008 with the best combination of products, silicon technology and manufacturing leadership in our history."
Intel is currently embroiled in a rivalry with Advanced Micro Devices for the next generation of processors, and was the subject of an antitrust investigation announcement in the US earlier in the week.