News Summary: Intel posts lower 4Q earnings

News Summary: Intel fourth-quarter earnings drop 27 percent from a year ago

Associated Press

CHIPS ARE DOWN: Intel's sales are shrinking slowly, as consumers shift from PCs, to smartphones and tablets. The company is trying to follow the shift by getting its chips into more hand-held gadgets.

INTEL INSIDE: Intel earned $2.47 billion, or 48 cents per share, in the fourth quarter. That was down 27 percent from last year, but analysts expected 45 cents per share. Revenue fell 3 percent to $13.5 billion.

REBOOT?: Intel expects revenue growth to revive this year, rising by a low single-digit percentage.

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