Intel's Q1 'a little better' than expected
Modest 16 per cent growth
Intel today tightened its first quarter revenue forecast to reflect stronger than usual sales.
The chipmaker, during its typical mid-quarter update, said revenue should come in between $9.2bn and $9.4bn. That's at the high end of a previous forecast that ranged between $8.8bn and $9.4bn. Solid microprocessor sales and meaty gross margins have helped Intel out so far during its first quarter.
"It's just a little bit better than we expected," Intel CFO Andy Bryant said about the period, during a conference call with financial analysts.
If Intel hits the latest revenue range, it would show 14 per cent to 16 per cent growth over the same quarter last year. It now expects a gross profit margin of 57 per cent, plus or minus a point, as compared to a previous forecast of 55 per cent, plus or minus a point. Intel pointed to lower than expected chip production costs for the boost.
Shares moved slightly higher during after-hours trading and sat at $25.30, at the time of this report. ®