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Intel misses profit, revenue expectations

Intel misses profit, revenue expectations

Revenue came in below Intel's own updated forecast for its 2005 fiscal fourth quarter, due to lower than expected desktop processor shipments.

Intel announced revenue of US$10.2 billion for the quarter that ended December 31, 2005, missing company expectations of between $10.4 billion and $10.6 billion that it announced in December. Still, revenue was from the $9.6 billion reported in the year-earlier quarter.

Intel's net income for the quarter was $2.5 billion, up from the year-earlier quarter, when it reported net income of $2.1 billion.

Intel also filed its year-end results on Tuesday. The company reported revenue of US$38.8 billion for the year, a 13.5 percent increase from revenue of $34.2 billion reported for fiscal 2004. Net income for the year was $8.7 billion, a 15 percent increase over net income of $7.5 billion for 2004.

Following the announcement, Intel's stock price plunged more than 8% in after-hours trading.

For the 2006 first quarter that is currently in progress, Intel expects revenue to be between $9.1 billion and $9.7 billion. For fiscal 2006, the company expects revenue to be 6 to 9% higher than the full-year figure for 2005.


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