Intel Drops 3% After Q4 EPS Miss
Intel (NASDAQ: INTC) is down more than three percent in after hours trading after the company announced its fourth quarter results.
The company reported a Q4 EPS of $0.51 versus the Street estimate of $0.52.
Earnings per share were up six percent from the year-ago period.
Revenue arrived at $13.8 billion versus the Street estimate of $13.72 billion. Sales were up two percent year-over-year.
"We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago," Intel CEO Brian Krzanich said in a company release. "We've built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms. For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago."
Intel performed a bit better in the third quarter, reporting an EPS of $0.58 versus the Street estimate of $0.54.
Shares of Intel are up more than three percent this year, and are up more than 20 percent over the last 12 months.
Investors do not seem to be happy with today's results, however. They may also be worried about the flat sales expectation for FY2014.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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