Intel on Thursday reported quarterly earnings and revenue that topped analysts' expectations, but the chipmaker's legacy personal computer business continued to struggle.
The company posted fiscal fourth-quarter earnings of 74 cents per share on $14.9 billion in revenue, which were flat and up 1 percent from the previous year, respectively. Analysts expected Intel to post earnings of 63 cents per share on $14.8 billion in revenue, according to a consensus estimate from Thomson Reuters.
Intel touted its progress in moving away from a slowing PC chip business and strengthening other revenue channels like data centers and the "Internet of Things." Still, its net income slid by 1 percent from a year earlier to $3.6 billion.
"Our 2015 results demonstrate that Intel is evolving and our strategy is working. This year, we'll continue to drive growth by powering the infrastructure for an increasingly smart and connected world," said Intel CEO Brian Krzanich in a statement.
Still, its shares fell as much as 5 percent in extended trading Thursday.