Programmable chip maker Altera Corp. (ALTR) said Thursday that it continues to expects second quarter revenue to grow 14% to 18% from the first quarter level.
Based on Altera's first quarter revenue of $383.75 million, the guidance implies second quarter revenue in the range of $437.38 million to $452.83 million. Analysts polled by Thomson Reuters expected the company to post revenue of $445.91 million for the second quarter.
The company had revenue of $548.38 million for the second quarter of last year.
Altera said its 40-nm and 28-nm products will be up strongly from first quarter levels, and that growth will be broad across most of the company's vertical markets as previously expected.
The company will release second quarter financial results after the market close on July 24.
Altera shares closed Thursday's regular trading session at $33.01, down 76 cents or 2.24%, but gained 54 cents or 1.64% in after hours trading.
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