Intel maintains third-quarter revenue forecast

Intel is predicting third-quarter revenues of between $9.8bn (£5.34bn) and $10bn, in line with earlier estimates.

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Intel is predicting third-quarter revenues of between $9.8bn (£5.34bn) and $10bn, in line with earlier estimates.

The chip manufacturer had earlier forecast revenues of between $9.6bn and $10.2bn.

Strong demand for notebook PCs had underpinned the firm’s double-digit year-on-year growth, it said.

The third-quarter forecast would also mark an increase on second-quarter revenues, when $9.2bn sales were reported, generating a $2bn net profit.

Intel said third-quarter gross margin percentage was expected to be 60%, plus or minus a point, with a tax rate forecast of approximately 30.5%.

The company warned that it was expecting to be hit by additional taxes of approximately $250m, related to a potential repatriation of approximately $6.3bn of accumulated income earned abroad.

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