Intel misses fourth-quarter forecast
SAN JOSE, Calif. – Intel Corp.’s fourth-quarter profit and sales missed Wall Street expectations Tuesday as the world’s largest chip maker faced lower-than-expected average selling prices and continued difficulties in meeting demand.For the three months ended Dec. 31, Intel earned $2.45 billion, or 40 cents per share, compared with a profit of $2.12 billion, or 33 cents per share, in the same period last year.Sales jumped 6 percent to $10.2 billion, from $9.6 billion in the last quarter of 2004.Analysts expected the chip company to earn 43 cents per share on sales of $10.56 billion, according to a survey by Thomson Financial.In December, the company narrowed its forecast to $10.4 billion to $10.6 billion, and Chief Financial Officer Andy Bryant said Intel’s tight capacity was probably leading to market share gains by rival Advanced Micro Devices Inc.”Although we fell below our expectations for the fourth quarter, we enter 2006 with exciting new product,” said Intel CEO Paul Otellini.Intel shares fell 27 cents, or 1 percent, to close at $25.52 in trading on the Nasdaq Stock Market. They fell $1.77 in after hours trading.Vail, Colorado
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