Intel Q4 Profit Misses Estimate

(RTTNews) - Intel Corp. (INTC) reported net income for the fourth quarter of $2.6 billion or $0.51 per share, compared to $2.5 billion or $0.48 per share for the year-ago quarter.

Revenue for the fourth quarter rose 3% to $13.83 billion from $13.48 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.52 per share on revenue of $13.72 billion for the fourth quarter.

Looking forward, the company forecasts first quarter revenue to be $12.8 billion, plus or minus $500 million. Gross margin for the first quarter is expected to be: 59%, plus or minus a couple of percentage points.

The company forecasts full year 2014 revenue to be approximately flat, with 2014 gross margin of 60%, plus or minus a few percentage points.

Analysts currently expect the company to post revenue of $12.79 billion for the first quarter and $53.21 billion for the full year 2014.