This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Intel Drops on Earnings Miss

NEW YORK (TheStreet) -- Intel's (INTC) fourth-quarter earnings missed Wall Street estimates after the company's PC business showed a little bit of strength, sending shares lower by 2.8% to $25.81 in after-hours trading.

For the fourth-quarter, Intel earned 51 cents a share on $13.8 billion in revenue, with gross margins coming in at 62%.
Analysts surveyed by Thomson Reuters expected Intel to earn 52 cents a share on $13.71 billion in revenue for the fourth quarter.

"We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago," said Intel CEO Brian Krzanich in a press 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."

The company noted its PC Client Group generated $8.6 billion in sales during the quarter, up 2% sequentially and flat year-over-year, as the segment looks to be bottoming out. Intel's Data Center Group generated $3 billion in sales, up 8% year-over-year and and 3% gain in sequentially. Intel's architecture operating segments group, which sells mobile chips, generated $1.1 billion in sales.

Gross margins came in at 62%, 1% point above the midpoint of the company's prior expectation of 61%.

For the first-quarter, Intel said it sees gross margins at 59%, plus or minus a couple of percentage points. Revenue is expected to be $12.8 billion, plus or minus $500 million for the quarter.

For the full year, Intel said it expects revenues to be flat compared to 2013, when the company generated $52.7 billion in revenue. It expects yearly gross margins to be 60%, plus or minus a few percentage points.

Intel shares closed lower in Thursday trading, off 0.49% to $26.54.

--Written by Chris Ciaccia in New York

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,867.96 -117.65 -0.69%
S&P 500 1,958.11 -14.72 -0.75%
NASDAQ 4,370.7690 -48.2650 -1.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs