Intel raises outlook for third quarter
Published: 22 Aug 2003 14:45 BST
Intel on Friday raised its financial outlook for the third quarter, citing better-than-expected PC chip sales.
The chipmaker said it would turn in revenue of between $7.3bn (£4.61bn) and $7.8bn for the quarter, above its previous expectation of $6.9bn to $7.5bn.
The update moves the midpoint of Intel's revenue guidance for the quarter, a figure that analysts generally use as a de facto revenue estimate, from $7.2bn to between $7.5bn and $7.6bn, an increase of $300m to $400m.
The company said in a statement that its Intel Architecture business, which includes PC processors, chipsets and related components for building PCs, is trending toward higher sales worldwide. That line of business accounts of the majority of Intel's revenue. Meanwhile, the company said demand for its communications products, which include technology such as flash memory, remains soft.
Intel also said its gross margin is expected to be 56 percent, plus or minus a couple of points, versus its previous expectation of 54 percent, plus or minus a couple of points.
All other expectations for the quarter, which ends on 27 September, are unchanged, Intel said.
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