Intel forecasts higher-than-expected revenue
With AMD losing hundreds of millions of dollars quarter after quarter, Intel appears to be doing quite well for itself. In its second-quarter financial results announcement back in July, the company predicted that its revenue for the third quarter would range from $9 billion to $9.6 billion. Well, Intel has now updated its forecast to say third quarter revenue is expected to be in the $9.4-9.8 billion range.
Considering Intel had revenue of $8.7 billion in the second quarter and, oddly enough, also $8.7 billion in the third quarter of last year, $9.4-$9.8 billion is quite an increase indeed. Intel pins that increase on "stronger than expected worldwide demand for [Intel] computing products." Profits should see a nice jump, too: the firm says it expects a gross margin "in the upper half of the previous range of 52 percent plus or minus a couple of points" in the third quarter, compared to 46.9% in the second quarter and 49.1% in the third quarter of last year.