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Intel lifts revenue forecasts

New York - Intel is raising its revenue guidance, saying sales of computers for businesses have been stronger than expected.

The world's largest chipmaker is now forecasting revenue of $13.4-billion to $14-billion in the second quarter.

Intel is also attempting to become a tougher competitor in the mobile chip business, which it has been unable to dominate the way it has desktop and laptop computers. Credit: REUTERS

The Santa Clara, California, company had expected $12.5-billion to $13.5-billion in revenue in the quarter.

It is also now saying it expects revenue to grow in 2014. In January, Intel said its sales would be about the same as last year's total of $52.71-billion.

Intel also expects stronger profit margins.

FactSet says analysts were forecasting $13.02-billion in revenue for Intel during the second quarter. Their projections called for $53.07-billion in annual revenue.

Intel's shares rose four percent in after-market trading on Thursday following the announcement of the revised guidance. - Sapa-AP

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