Shares plummet as Intel narrowly misses expectations
Intel announced today record fourth-quarter revenue of $10.7 billion, operating income of $3 billion and net income of $2.3 billion.
Despite revenue being up by 10.5% over the same quarter in 2006, it fell some $100 million below what analysts had expected and has resulted in Intel shares plummeting by more than 14%.
Remaining upbeat, Paul Otellini, Intel president and CEO said:
"2007 was a breakthrough year for innovation at Intel. We realised the benefits of our investments in new products and our efforts to drive efficiencies. Our customers embraced the Intel Core microarchitecture, extending our competitive leadership and driving a significant gain in operating results. We enter 2008 with the best combination of products, silicon technology and manufacturing leadership in our history."
HEXUS .channel editor, Scott Bicheno, has taken a look at Intel's shares and the current state of the market, head on over to HEXUS .channel for further coverage.
A comprehensive breakdown of Intel's 2007 revenue and outlook is available in the official press release: Intel posts record quarterly revenue
