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Intel profit up slightly, shares fall after hours

Thursday, 16 Jan 2014 | 4:06 PM ET
Intel has to be in the wearable space: VP
Christian Morales, VP and general manager for EMEA at Intel, says the company needs to be part of the wearable technology space but this could take time.

Intel posted fourth-quarter net earnings of $2.6 billion, or 51 cents a share, compared with $2.5 billion, or 48 cents a share, in the year-ago quarter as the chipmaker grapples with a shrinking PC industry and finds support from demand for more servers.

Fourth-quarter revenue was $13.8 billion, compared with $12.5 billion in the year-ago quarter, it said in a statement on Thursday. Intel forecast revenue of $12.8 billion, plus or minus $500 million, for the first quarter, which ends in March.

Analysts had expected $13.72 billion in revenue for the fourth quarter and $12.79 billion for the normally slower first quarter, according to Thomson Reuters I/B/E/S.

Shares of Intel were down 1.73 percent in extended trade after closing down 0.5 percent at $26.54 on the Nasdaq.

What is Intel stock doing now? (Click here to get the latest quotes.)

—By Reuters

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