Intel Profit Plunges 90% On Miserable Demand (INTC)

is taking its toll on chip-maker Intel (INTC): The company reported today net income of $234 million, down 90% from a year earlier.

EPS was 4 cents a share, in line with estimates. Revenue was $8.2 billion, down 23 per cent, also in line.

No hard forecasts from Intel: The company said the economy makes it difficult to predict demand, but it’s assuming about $7 billion in first-quarter sales. That’s below consensus estimates of $7.28 billion.

Tough numbers, but not as bad as feared: The stock is up 1.8% after hours.

See Also:
Dell Loses More Market Share In Q4
Apple’s U.S. Mac Shipments Grow In Q4 While PC Market Shrinks
Intel: No More Job Cuts Coming

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.