NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report were retreating 2.68% to $36.75 in after-hours trading on Tuesday as the chipmaker provided a lower-than-expected 2016 fourth-quarter revenue outlook after today's market close.
The company sees fourth-quarter revenue of $15.7 billion, plus or minus $500 million. Analysts are looking for $16.1 billion.
For the third quarter, Intel posted adjusted earnings of 80 cents per share, beating analysts' expectations of 73 cents per share.
Revenue came in at $15.78 billion, which was higher than Wall Street's projected $15.58 billion in revenue.
For the same period last year, the Santa Clara, CA-based company earned 64 cents per diluted share on revenue of $14.47 billion.
Data center revenue in the 2016 third quarter rose 10% year-over-year to $4.5 billion.
Revenue in Intel's Internet of Things division grew 19% year-over-year to $689 million.
More than 29.91 million of the company's shares changed hands far today vs. its average 30-day volume of 22.08 million shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Intel as a Buy with a ratings score of B+. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, solid stock price performance and expanding profit margins. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: INTC