SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Intel Corp. (INTC) on Thursday reported a loss of $591 million in its fourth quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 12 cents. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The world’s largest chipmaker posted revenue of $13.67 billion in the period, which also beat Street forecasts. Fourteen analysts surveyed by Zacks expected $13.37 billion.
For the year, the company reported a loss of $267 million, or 6 cents per share. Revenue was reported as $52.85 billion.
For the current quarter ending in March, Intel said it expects revenue in the range of $11.7 billion to $12.7 billion.
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