PMC-Sierra, a maker of telecommunications chips, has raised its revenue forecast for the second quarter.
The Santa Clara, Calif.-based company said Friday that revenue for the quarter, which ends June 27, is likely to be in the range of $85 million to $86.5 million, which would represent growth of between 8 percent and 10 percent, compared with the previous quarter. In April, the chipmaker had projected a figure of between $83 million and $85 million.
Analysts on average had expected revenue of about $84.2 million, according to Reuters Estimates.
The report follows similar news from Intel, which earlier this week revised its forecast for the quarter, saying it now expects revenue of between $8 billion and $8.2 billion. The company cited increased demand for flash memory chips.
Discuss: Chipmaker raises revenue forecast
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.