Intel Profits Fall -- Finspreads
LONDON, Jan 18, 2013 (MARKETWIRE via COMTEX) --
Finspreads - Intel, the world's largest maker of computer
microchips, has announced a cut in its profits for the last three
months of 2012. Net income over the last quarter of last year fell by
27 per cent to $2.7 billion, which still beat the figure that was
forecasted by many analysts. Revenue was also down; falling by three
per cent to $13.5 billion.
Sales of PCs containing Intel chips have suffered with the recent
rise of smartphones and tablets, something which many analysts have
used to explain Intel's drop in profits.
Intel had already predicted slow sales in the run-up to the final
quarter of last year, and that the usual boost to revenue from
Christmas sales would be small.
Paul Otellini, Intel's chief executive, said, "The fourth quarter
played out largely as expected as we continued to execute through a
In a statement, the company said that it expects revenue during the
first three months of 2013 to be around $12.7 billion, a figure
slightly lower than the average forecasts of analysts.
The announcement has already had an effect on Wall Street, with Intel
slipping 5.69 per cent to $21.39.
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