Intel revenue came in below the company's own updated forecast for its 2005 fiscal fourth quarter, due to lower than expected desktop processor shipments.
Intel revenue was $10.2 billion for the quarter, slightly below company expectations of between $10.4 billion and $10.6 billion. Revenue was up from the $9.6 billion reported in the year-earlier quarter.
Intel's net income for the quarter was $2.5 billion, up from the year-earlier quarter, when it reported net income of $2.1 billion.
Intel also filed its year-end results Tuesday. The company reported revenue of $38.8 billion for the year, a 13.5 per cent increase from revenue of $34.2 billion reported for fiscal 2004. Net income for the year was $8.7 billion, a 15 per cent increase over net income of $7.5 billion for 2004.
Following the announcement, Intel's stock price plunged more than 8 per cent in after-hours trading.
For the 2006 first quarter that is currently in progress, Intel expects revenue to be between $9.1 billion and $9.7 billion. For fiscal 2006, the company expects revenue to be 6 per cent to 9 per cent higher than 2005.