Intel quarterly revenue forecast meets expectations

Reuters News
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Posted: Jan 19, 2012 4:34 PM

SAN FRANCISCO (Reuters) - Intel Corp forecast quarterly revenue in line with Wall Street's expectations as a shortage of hard drives disrupts PC production in a market already hobbled by a shaky economy and a growing preference for tablets.

Intel said revenue in the current quarter would be $12.8 billion, plus or minus $500 million. Analysts on average had expected current-quarter revenue of $12.770 billion, according to Thomson Reuters I/B/E/S.

The world's leading chipmaker said revenue in the fourth quarter was $13.9 billion, up 21 percent and slightly higher than the $13.718 billion expected.

GAAP net income in the fourth quarter was $3.4 billion, up 6 percent. GAAP earnings per share were 64 cents.

Shares of Intel rose 1 percent after its earnings report from a close of $25.63, up 0.95 percent on Nasdaq.

(Reporting by Noel Randewich; Editing by Gary Hill)