Last quarter could've gone better for Intel, with that European Commission fine leading the chipmaker to its first loss in decades, but CEO Paul Otellini nonetheless talked of "improving conditions in the PC market segment." Things must still be improving, because Intel has sent out a press release to say it has raised expectations for the ongoing third quarter.
The company previously expected (PDF) revenue of $8.5 billion "plus or minus $400 million," with a gross margin of 53%, plus or minus 2%. Now, Intel says it should see revenue of $9 billion give or take $200 million, and its margin will be in the "upper half" of the previous estimate (that's 53-55%, if I'm getting this right).
So, Intel was previously bracing for revenue as low as $8.1 billion, but it now expects at least $8.8 billion and as much as $9.2 billion. That last figure would still represent a pretty big year-on-year drop, though. Intel posted a record $10.3 billion with a 59% gross margin in Q3 last year.