Author: Dean Takahashi / Source: VentureBeat
Intel reported earnings that beat analyst expectations, but the big PC and server chipmaker missed expectations on revenues by $360 million. In after-hours trading, Intel’s stock is down 6.5 percent to $46.
20 a share.The Santa Clara, California-based chipmaker reported non-GAAP earnings per share of $1.28 on revenues of $18.66 billion. Analysts expected Intel to report earnings per share of $1.22 a share on revenues of $19.02 billion.
For the full year, Intel reported earnings per share of $4.58, or $21.5 billion, on revenue of $70.8 billion. Intel said it has approved a five percent increase in its cash dividend to $1.26 per share on an annual basis.
“2018 was a truly remarkable year for Intel with record revenue in every business segment and record profits as we
transform the company to pursue our biggest market opportunity ever,” said Bob Swan, Intel CFO and interim CEO, in a statement. “In the fourth quarter, we grew revenue, expanded earnings and previewed new 10-nanometer-based products that position Intel to compete and win going forward. Looking ahead, we are forecasting another record year and raising the dividend based on our view that the explosive growth of data will drive continued demand for Intel products.”
The PC chip and server processor giant also made a lower prediction for the first quarter than expected. Intel said it expects…
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