Intel (INTC) reported quarterly earnings that beat analysts' estimates and revenue that met forecasts, but its revenue outlook fell short of expectations on Thursday.
After the fourth-quarter earnings announcement, Intel stock ticked higher in extended-hours trading. (Click here to get the latest quotes for the company.) (INTC)
The chipmaker's net earnings were $2.5 billion, or 48 cents a share, compared with $3.4 billion, or 64 cents a share, in the same quarter last year.
Revenue decreased 3 percent to $13.5 billion from $13.89 billion a year ago as the personal computer industry wrestles with falling sales and a shift toward tablets and smartphones.
Analysts had expected the company to report earnings excluding items of 45 cents a share on $13.53 billion in revenue, according to a consensus estimate from Thomson Reuters.
For the first quarter, the company sees revenue of $12.2 to $13.2 billion. This range's midpoint is lower than the consensus estimate of $12.91 billion, according to a consensus estimate from Thomson Reuters.
PC makers are struggling to stop a decline in sales as consumers hold off on buying new laptops in favor of spending on more nimble mobile gadgets.
Microsoft's (MSFT) long-awaited launch of Windows 8 in October brought touchscreen features to laptops but failed to spark a resurgence in sales that Intel and many PC manufacturers had hoped for.
Intel said its capital spending in 2013 would be $13 billion, plus or minus $500 million, exceeding what many analysts had expected.
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