NEW YORK ( TheStreet ) -- Intel's ( INTC ) fourth-quarter earnings missed Wall Street estimates after the company's PC business showed a little bit of strength, sending shares lower by 2.8% to $25.81 in after-hours trading. For the fourth-quarter, Intel earned 51 cents a share on $13.8 billion in revenue, with gross margins coming in at 62%. Analysts surveyed by Thomson Reuters expected Intel to earn 52 cents a share on $13.71 billion in revenue for the fourth quarter. "We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago," said Intel CEO Brian Krzanich in a press release. "We've built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms. For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago."