Skip to main content

Intel Corp. (INTC) - Get Intel Corporation Report shares fell more than 7% after hours after the company missed fourth-quarter revenue expectations and issued weaker-than-expected guidance.

Earnings per share came in at $1.28, beating estimates for $1.22, but the giant chipmaker's revenue of $18.66 billion fell short of estimates for $19.02 billion.

TheStreet Recommends

The company also said it expects revenue of $16 billion on earnings of 87 cents per share in the first quarter of 2019, while Wall Street was expecting guidance of $17.3 billion and earnings of $1.01 per share. For the full year, Intel gave guidance of $71.5 billion in revenue and earnings per share of $4.60, compared to expectations of $73.19 billion in revenue and earnings of $4.53 per share.   

The company also announced that its board of directors has approved a five percent increase in its cash dividend to $1.26 per-share on an annual basis.

Intel has been without a permanent leader since it parted ways with former CEO Brian Krzanich in June 2018 amid allegations of an inappropriate relationship with an employee. Chief financial officer Bob Swan has taken the reins on an interim basis and there are rumored candidates for the top job, but the company did not provide any guidance in its report on Thursday on who would be taking the helm permanently.

Intel closed Thursday's session up 3.8%.