Intel's update shows better than expected revenue in Q4

Intel Corporation has provided a planned update to the company's Business Outlook for the fourth quarter, which ends December 28.

Intel expects revenue for the fourth quarter to be between $6.8bn and $7.0bn, as compared to the previous range of $6.5bn to $6.9bn. The company's Intel Architecture business is performing above expectations, primarily due to higher sales in Asia. Intel's communications businesses are in line with the company's expectations at the beginning of the quarter.

The gross margin percentage is expected to be at the high end of the previous range of 49%, plus or minus a couple of points. Gains or losses from equity investments and interest and other are expected to be a net loss of $90m, as compared to the previous expectation of a net loss of $50m, primarily due to higher impairment charges on equity investments. All other expectations are unchanged.

Intel's fourth-quarter 2002 Business Outlook was originally published in the company's third-quarter 2002 earnings release, available at www.intc.com. Shares in the company rose in after hours trading.