Intel Lifts Q3 Guidance To $15bn
Banking on an improvement in the PC market, Intel has lifted its outlook for the third quarter.
Stronger buying activity which has concentrated in high-end laptops and gaming PCs has helped the company but analysts and industry executives said demand for entry-level PCs remains weak.
Intel, which supplies microprocessor chips used in close to 90 percent of all PCs, said it now expects third-quarter revenue of US$15.6 billion, plus or minus $300 million, up from a previous range of $14.9 billion. The company also boosted its gross margin forecast by two percentage points.
The new revenue expectations come in higher than last year’s third-quarter total of $14.47 billion.
Intel is set to report its third-quarter results on October 18. Its shares rose 3.1 percent to $37.69 in New York trading on Friday.