Intel 4Q net income rises 6 pct

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Associated Press

Posted on January 16, 2014 at 4:02 PM

Updated Thursday, Jan 16 at 4:02 PM

NEW YORK (AP) — Intel's fourth-quarter net income rose 6 percent, as higher sales of other products offset flat demand for its personal computer chips.

The world's largest chipmaker earned $2.63 billion, or 51 cents per share, up from $2.47 billion, or 48 cents per share, in the same quarter of 2012. Revenue rose 3 percent to $13.83 billion.

Analysts polled by FactSet expected a profit of 52 cents per share on revenue of $13.72 billion.

Intel supplies chips for the majority of personal computer processors, so the consumer shift away from PCs —and toward tablets and smartphones— continues to hurt sales. The company has tried to offset the decline with higher sales of chips for servers, phones and tablets.

Intel Corp. also issued a first-quarter revenue outlook roughly in line with analysts' predictions.

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