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Intel profit misses consensus by 23.5% in Q4

Intel Corp. said its fourth-quarter normalized net income came to 57 cents per share, compared with the S&P Capital IQ consensus estimate of 75 cents per share.

EPS climbed year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.80 billion, a gain of 4.9% from $2.67 billion in the prior-year period.

The normalized profit margin dropped to 17.1% from 17.9% in the year-earlier period.

Total revenue increased 9.8% year over year to $16.37 billion from $14.91 billion, and total operating expenses grew 10.9% from the prior-year period to $11.79 billion from $10.63 billion.

Reported net income decreased from the prior-year period to $3.56 billion, or 73 cents per share, from $3.61 billion, or 74 cents per share.

For the year, the company's normalized net income totaled $1.88 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.68.

EPS rose from $1.82 in the prior year.

Normalized net income was $9.15 billion, a rise from $8.91 billion in the prior year.

Full-year total revenue increased on an annual basis to $59.39 billion from $55.35 billion, and total operating expenses grew year over year to $44.30 billion from $41.00 billion.

The company said reported net income declined on an annual basis to $10.34 billion, or $2.12 per share, in the full year, from $11.40 billion, or $2.33 per share.