Intel 4Q profit down 27pc

Intel, the world’s largest chipmaker, said fourth-quarter net income fell 27 per cent from the previous year, as PC sales continued to weaken.

Net income was US$2.47 billion, or 48 cents per share, for the October to December period. That was down from US$3.36 billion, or 64 cents per share, a year ago.

Intel still beat earnings expectations for the quarter by 3 cents per share relative to the average of analysts polled by FactSet. That was due to slightly higher-than-expected prices for its chips and lower-than-expected costs for starting up new production lines.

via Business feed http://www.scmp.com/business/companies/article/1130868/intel-4q-profit-down-27pc