Intel earnings fall short of Street estimates Brett Molina, USA TODAY 4:59 p.m. EDT July 17, 2013 Intel_Stocks (Photo: MANDY CHENG AFP/Getty Images) SHARECONNECT 22 TWEETCOMMENTEMAILMORE Shares of Intel sunk 3% in after-hours trading after its second quarter earnings slightly missed Wall Street expectations. The personal computer company posted $12.8 billion in revenue last quarter, up 2% from the same time last year. The company also raked in $2 billion in profit, with an earnings-per-share of 39 cents. Analysts were expecting Intel to report an earnings per share of 40 cents, and quarterly revenue of $12.9 billion. The company also downgraded its full-year forecast, citing a weaker than expected PC market. Intel says annual revenue will finish flat after originally predicting a single-digit percentage increase. Intel is among several PC companies scrambling to shift focus on the booming mobile market, as more consumers opt for tablets and smartphones. Earlier this month, research firms Gartner and IDC said global PC shipments were down 11% during the second quarter. The industry has posted shipment declines for five straight months, the longest slump ever, says Gartner. In May, Intel scored a major victory through a partnership with Samsung and its upcoming Galaxy tablet. Samsung will use Intel's Atom processor on their upcoming Galaxy Tab-3 10.1-inch tablet.

Intel earnings fall short of Street estimates

Brett Molina, USA TODAY 4:59 p.m. EDT July 17, 2013

(Photo: MANDY CHENG AFP/Getty Images)

SHARECONNECT 22 TWEETCOMMENTEMAILMORE

Shares of Intel sunk 3% in after-hours trading after its second quarter earnings slightly missed Wall Street expectations.
The personal computer company posted $12.8 billion in revenue last quarter, up 2% from the same time last year. The company also raked in $2 billion in profit, with an earnings-per-share of 39 cents.
Analysts were expecting Intel to report an earnings per share of 40 cents, and quarterly revenue of $12.9 billion.
The company also downgraded its full-year forecast, citing a weaker than expected PC market. Intel says annual revenue will finish flat after originally predicting a single-digit percentage increase.
Intel is among several PC companies scrambling to shift focus on the booming mobile market, as more consumers opt for tablets and smartphones.
Earlier this month, research firms Gartner and IDC said global PC shipments were down 11% during the second quarter. The industry has posted shipment declines for five straight months, the longest slump ever, says Gartner.
In May, Intel scored a major victory through a partnership with Samsung and its upcoming Galaxy tablet. Samsung will use Intel's Atom processor on their upcoming Galaxy Tab-3 10.1-inch tablet.