The share price of Intel is down today (January 17th) following the release of the company's full-year results for 2013.
A statement from the technology company stated that operating income of $3.5 billion (£2.14 billion) was recorded, which was up 12 percent year-over-year.
For the fourth quarter, Intel announced that it posted revenue of $13.8 billion, as well as operating income of $3.5 billion and net income of $2.6 billion.
Chief executive officer Brian Krzanich described the company's performance in the fourth quarter of the year as "solid" and explained there have been signs of stabilisation in the PC market.
He said: "We've built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms. For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago."
Despite the bullish comments from Mr Krzanich, the share price of Intel dropped by 4.71 per cent in after-hours trading in the US on the back of the financial results being released.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.