A lot going on in the tech sector today with multiple companies reporting earnings right now including Intel Corporation (NASDAQ:INTC), Google Inc. (NASDAQ:GOOG), International Business Machine (NYSE:IBM) and Microsoft Inc. (NASDAQ:MSFT).
Intel Corporation (NASDAQ:INTC) is up in after hours today as the company reports fourth quarter revenue and profit that beat analysts’ estimates. Revenue for the quarter jumped to $13.9 billion with an EPS of $0.64. Most analysts were expecting $13.74 billion and EPS of $0.61. The company saw revenue from its PC Client group sales of microprocessors rise 17% to $9 billion. Their Data Center Group chip products were up 8% at $2.7 billion. In the current quarter, Intel is expecting revenue in the range of 12.3 billion to $13.3 billion. INTC shares are seeing a slight boost in after hours, up 0.7% at $25.80.
Google Inc. (NASDAQ:GOOG) is getting hammered right now after their fourth quarter revenue missed Wall Street target. Google saw net income rise 6.4% to $2.71, or $8.22 a share. Excluding the cost of stock options and tax benefits, Google’s fourth quarter profit was $9.50 a share. Analysts were expecting $10.49 a share. Google saw paid click volume increase 34% year over year but the average Google was paid for each click fell 8%. GOOG shares are currently down more than 8% at $587.66 in after hours trading.
International Business Machines (NYSE:IBM) earned $4.71 in the fourth quarter, beating analysts’ estimates of $4.61. The company’s revenue was $29.5 billion, slightly less than the $29.7 billion analysts were expecting. Better than expected guidance for 2012 helped send IBM shares higher in after hours. The company expects to earn at least $14.85 in 2012, beating the forecasted $14.77. IBM shares are up 2.62% at $185.25 in after hours trading.
Microsoft Corporation (NASDAQ:MSFT) saw profits fall in its fiscal second quarter due to lower computer sales. The company saw a net profit of $6.624 billion or $0.78 per share compared with $6.634 billion or $0.77 per share last year. The per share is higher as Microsoft has fewer outstanding shares in the most recent quarter. Net profit beat Wall Street’s estimates of $0.76 per share. Sales saw a 5% increase to nearly $21 billion thanks to its Office, server software and Xbox business. MSFT shares are up 2.31% at $28.77 in after hours trading.