Intel Raises Q3 Financial Expectations
Citing stronger-than-expected demand for processors and chip sets, Intel is raising its revenue and profit margin expectations for the third quarter. Intel officials now expect revenues to come in around $9 billion, a bump up from the approximately $8.5 billion that the chip maker had predicted in July, when it announced strong second-quarter financial numbers.Just over a month after reporting relatively strong second-quarter financial numbers, Intel Aug. 28 announced that it is raising its expectations for the third quarter. Intel officials said that given the unexpected demand for processors and chipsets, they were predicting revenues for the current quarter to come in between $8.8 billion and $9.2 billion. They previously said they expected revenues of between $8.1 billion and $8.9 billion.
They also said they expect the gross margin percentage for the third quarter to be in the upper half of the previous range of 53 percent, plus or minus two points.