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January 18, 2013

Intel Q4 revenue falls 3% as PC sales stall

Tablets hamper the chip vendor's sales

By CBR Staff Writer

Intel has reported a 3% decline in its fourth quarter revenue to $13.5bn, compared to $13.9bn for the corresponding period in 2011, partly down to a PC sales slide.

The company’s net income fell 27% to $2.5bn or $0.48 earnings per share, compared to $3.4bn or $0.64 earnings per share, for the same period last year.

Operating income also declined 31% to $3.2bn for the quarter, compared to $4.6bn for the same period a year ago.

PC Client Group revenue decreased 1.5% to $8.5bn for the quarter while while Data Center Group revenue increased 7% to $2.8bn. Other Intel architecture group revenue during the period decreased 7% year over year to $1bn while it dropped 14% compared to last quarter.

Intel president and CEO Paul Otellini said: "The fourth quarter played out largely as expected as we continued to execute through a challenging environment."

"We made tremendous progress across the business in 2012 as we entered the market for smartphones and tablets, worked with our partners to reinvent the PC, and drove continued innovation and growth in the data center," Otellini said.

For the full year of 2012, the company reported revenue of $53.3bn and a net income of $11bn while for the first quarter of 2013, Intel expects revenue to be $12.7bn, plus or minus $500m and a gross margin of 58%.

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Last year, Otellini announced he will be retiring from the company in May this year and a company insider is expected to succeed him.

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