Flat year projected at Intel

Intel Jan 14Intel had Q4 revenue of $13.83 billion and profit of $2.63 billion for a gross margin of 62%.

Revenue was up 2.6% from Q42012’s $13.48 billion and profit was up 6.4% from Q42012’s $2.47 billion.

For the year, revenues were 1% down but PC revenues were 4% down.

For Q1 the company expects revenue of $12.8 billion plus or minus $500 million.

For 2014, Intel forecast flat revenues and a gross margin of 60%.

Intel has cash of $20 billion but debt of $13.4 billion.

Intel has been borrowing money to pay the dividend. Without its high dividend Intel’s share price, which has been flat for a decade, would be lower.

Intel shares fell over 4% immediately after the announcement.

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