Intel Earnings Beat Expectations

(RTTNews) - Intel (INTC) reported stagnant profits for the fourth quarter, despite a slight advance in revenues. Still, the computer chip maker's bottom line beat what market analysts were predicting.

The company reported net income for the fourth quarter of $3.6 billion, or $0.74 per share. This was down from $3.7 billion, or $0.74 per share, in the same period last year.

Revenue came in at $14.9 billion, compared to $14.7 billion last year.

Analysts were looking for the company to earn $0.63 per share of revenues of $14.8 billion.

The company benefited from a lower tax rate in this year's fourth quarter compared to last year. Gross margins were down slightly.

In terms of segments, Intel saw sales growth at its Data Center unit and its Internet of Things division. Sales were down year-over-year at its software and services operating segments, as well as at its client computer unit.

Looking ahead, the company predicted non-GAAP revenue of $14.1 billion for the first quarter, give or take $500 million. This includes expected results from its recently completed acquisition of Altera.

Analysts are looking for first-quarter revenues of $13.9 billion.