Avago Technologies (AVGO) this afternoon said it now expects revenue for its fiscal second quarter ending 2 to up 11%-13% sequentially from FY Q1, above its previous forecast of 6%-9% sequential growth.
The chip maker also said it expected gross margin for the quarter to be 44.5% on a GAAP basis, plus or minus 50 basis points, and 47.5% on a non-GAAP� basis.
The company said it has been seeing stronger than expected sales in the industrial markets, and to a lesser extent in consumer and computer peripherals markets.
AVGO in late trading is up 85 cents, or 3.9%, to $22.75.
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