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Intel Profits Fall on Weaker PC Market
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Semiconductor vendor, Intel has reported a slight fall in its full year revenues of US$53.3 billion, which was down by 1.2 percent compared to the 2011 results. The drop in revenues was largely down to a 3% fall in its main PC division which has been hurt by the rise in sales of tablets and smartphones.
Net profits were also down, by 15% to US$11 billion.
The company generated approximately US$18.9 billion in cash from operations, paid dividends of US$4.4 billion, and used US$4.8 billion to repurchase its shares.
During the fourth-quarter of last year, the company saw revenues down by 3% at US$15.5 billion and net profits fall by 27% to US$2.5 billion.
"The fourth quarter played out largely as expected as we continued to execute through a challenging environment," said Paul Otellini, Intel president and CEO. "We made tremendous progress across the business in 2012 as we entered the market for smartphones and tablets, worked with our partners to reinvent the PC, and drove continued innovation and growth in the data center."
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