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Intel expects higher 4Q revs
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November 10, 1998: 5:57 p.m. ET
Chip giant says stronger-than-expected PC demand will drive growth
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NEW YORK (CNNfn) - Intel Corp. Tuesday said it expects fourth-quarter revenue to exceed earlier expectations, largely driven by stronger demand for PC products.
The company previously estimated its fourth-quarter revenue would be slightly higher than the $6.7 billion of sales it reported for its third quarter.
The chip giant now says it expects an 8- to 10-percent jump in fourth-quarter revenue from the third quarter.
Analysts expect Intel to report fourth-quarter earnings of 95 cents a share, according to First Call.
Intel also said it expects gross margins to rise "a couple of points" from the 53 percent it reported in the third quarter.
Intel (INTC) shares closed up 1-9/16 to a new 52-week high of 97-9/16 before climbing to 100-1/2 in after-hours trading.
Separately, Paul Otellini, head of Intel's architecture business group, said the company expects $2.5 billion in revenue from online sales in the fourth quarter, exceeding the company's goal of $1 billion. Intel reported no revenue from online sales a year ago.
Otellini also said Intel expects to double fourth-quarter shipments of its Celeron microprocessor, designed for low-cost personal computers, compared with third-quarter results. 
-- from staff and wire reports
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Intel
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