Chip manufacturer Intel posted quarterly and annual financial results earlier today. For the fourth-quarter, Intel posted revenue of $14.7 billion, operating income of $4.5 billion, net income of $3.7 billion and earnings per share of $0.74. On the year, the company reported full-year revenue of $55.9 billion, operating income of $15.3 billion, and a net income of $11.7 billion. The company generated approximately $20.4 billion in cash from operations, paid dividends of $4.4 billion, and used $10.8 billion to repurchase 332 million shares of stock.
The company noted that the PC Client group had revenue of $8.9 billion, down three percent sequentially and up three percent year-over-year, which may signify the beginning of a turnaround for the desktop and laptop market. The "Internet of Things" group had revenue of $591 million, up 12 percent sequentially and up 10 percent year-over-year.
For the first quarter of 2015, Intel expects revenue to drop to $13.7 billion, despite the release of more Broadwell processors. Annual revenue will grow in the "mid-single digit" percent, the company said. Intel will spend around $20 billion in research and development costs to grow the line, with more than half headed to the "Internet of Things" concept.
Analysts were expecting exactly what Intel reported for quarter earnings. However, Intel exceeded the earnings per share by $0.08 -- indicating the company had a better profitability than expected. The stock price is a bit lower than close at the time of this article, likely due to less-than-expected sales figures.