Intel reports 4th quarter earnings of 74 cents per share but shares fell 5 percent in extended trading

Intel on Thursday reported it’s 4Q 2015 earnings of 74 cents per share on $14.9 billion in revenue. It outperformed analysts expectation of 63 cents per share on $14.8 billion in revenue.

Intel in it’s report indicated that they are moving away from a slowing PC chip business and strengthening other revenue channels like data centers and the “Internet of Things.” Still, its net income slid by 1 percent from a year earlier to $3.6 billion.

Its shares fell as much as 5 percent in extended trading Thursday.

On the call, Smith said Intel expects revenue to grow by a mid-to-high single-digit percentage in 2016.

The company’s shares have fallen 10 percent in the last year.

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