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Intel's results miss expectations

Intel's results miss expectations

Intel's latest quarterly results have failed to meet market expectations, despite a 25% jump in profit. Net fourth-quarter profit at the world's largest microchip-maker was $2.5bn (£1.4bn), up from $2.1bn for the same period a year earlier. Wall Street had expected better, but Intel was hit by weaker-than-expected growth in demand for its processors. Revenues were also below what the markets expected, rising to $10.2bn - 6% higher than 12 months previously. More competition Analysts had predicted that Intel's fourth-quarter revenues would top $10.56bn. Intel's computer chips are used in some 90% of the world's computers, and earlier this week it signed a deal to start supplying Apple. Yet at the same time the firm has been hit by increased competition from rival Advanced Micro Devices (AMD). While Intel's shares have risen about 13% over the past year, AMD's have more than doubled.

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