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.
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