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Intel To Investigate Hack Of Earnings Results

intelearningsresults jan22 lt

Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule.

The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday.

Earlier, Financial Times quoted Intel CFO George Davis as saying that a hacker stole advanced details about its financial information from its corporate website.

It was reported that an infographic was hacked off of the PR newsroom site, and that it was circulating outside the company.

The leak is said to be the result of an illicit action that did not involve any unintentional disclosure by the company itself.

With the early release of the report, Intel shares closed around 6.5 percent higher in the regular trade. The company's fourth-quarter profit and revenues had trumped Wall Street estimates.

However, the stock declined around 5 percent in the after-hours trading following the report of hack as well as the incoming Chief Executive Officer Pat Gelsinger's announcement of the plans to manufacture majority of its chips internally.

In Friday's pre-market activity on Nasdaq, shares were trading down around 4.8 percent.

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