Intel (NASDAQ:INTC) raised its third-quarter revenue forecast on Friday, citing stronger-than-expected demand for its microprocessors and chipsets. The Santa Clara-based technology company said it now expects revenue for the third quarter to be $9 billion, compared to its prior guidance of $8.5 billion.
Intel’s last guidance, which came July 14, was for revenue in the range of $8.1 billion to $8.9 billion.
Analysts polled by Thomson Reuters (NYSE:TRI) were expecting $8.55 billion in revenue before Friday.
The company also said it sees its gross margin percentage for Q3 to be in the upper half of the previous range of 51-55%. That would be a marked improvement from second quarter’s 51%. Analysts currently expect gross margin of 53.2%.
Shares of Intel are up 90 cents, or 4.57%, to $20.34 in early trade on the Nasdaq.
The company is scheduled to report its Q3 results on Oct. 13.