Altera lifts low end of 2nd-quarter revenue guidance range as new products drive growth

Altera raises low end of 2Q revenue outlook

SAN JOSE, Calif. — Chip maker Altera Corp. raised the low end of its second-quarter revenue growth guidance range on Monday, saying demand for new products is driving the quarter’s results.

The company now expects revenue to rise 10 percent to 12 percent sequentially, instead of the 8 percent to 12 percent range it previously forecast.

Analysts polled by Thomson Reuters are expecting, on average, revenue of $443.5 million. That would mark a 10 percent increase from first-quarter revenue of $402.3 million.

The company will report quarterly results on July 20.

Shares rose 28 cents to $23.55 in after-hours trading. The stock had closed the regular session down 39 cents at $23.27.