Intel Corp. forecast third-quarter revenue above Wall Street's expectations, signaling that a shrinking personal computer industry may be stabilizing.
The chipmaker's shares rose 3.9 percent in extended trading after closing up 0.70 percent at $31.71 on Nasdaq.
Intel said in a statement on Tuesday it expects third-quarter revenue of $14.4 billion, plus or minus $500 million. Analysts had expected $14 billion on average, according to Thomson Reuters I/B/E/S.
The Santa Clara, California company also said it expects full year revenue to grow about 5 percent, "slightly higher than prior expectations."
Second-quarter revenue was $13.8 billion, compared with $12.8 billion in the year-ago quarter, Intel said. In June, Intel revised increased its second-quarter revenue outlook to $13.7 billion, plus or minus $300 million, citing stronger-than-expected demand for PCs used by businesses.
Intel posted second-quarter net income of $2.8 billion, or 55 cents a share, compared with $2.0 billion, or 39 cents a share, in the year-ago quarter.
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