Intel Corp's forecast third-quarter revenue above Wall Street's expectations, meaning that a declining personal computer industry could be stabilizing.
The company's shares increased 3.9 percent in extended trading after closing up 0.70 percent $31.71 on NASDAQ.
The Santa Clara, California company expects third-quarter revenue of $14.4 billion, plus or minus $500 million, according to a statement made by Intel on June 14.
"Our second-quarter results showed the strength of our strategy to extend the reach of Intel technology from the data center to PCs to the Internet of Things," said CEO Brian Krzanich, in a press release.
Analysts previously predicted 14 billion on average, according to Thomson Reuters I/B/E/S.
The chipmaker also said it expects full year revenue to grow about 5 percent, or "slightly higher than prior expectations."
Second-quarter revenue was at approximately $13.8 billion, compared with $12.8 billion in the same quarter last year, according to Intel.
Last month Intel increased its second-quarter revenue outlook to $13.7 billion, citing stronger-than-originally expected demand for PCs used by companies.
"Stronger PC outlook (however temporary) is doing well to mitigate them for the moment," said Bernstein Research analyst Stacy Rasgon in a note this week to his clients, according to the Wall-Street Journal. "While the company appears to be taking a bullish tone, we have seen this movie before."
The company 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 same quarter during 2013.
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