Broadcom Ltd. (AVGO) Lifts Lower-End of Q4 GAAP Revenue Guidance
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Broadcom Limited (Nasdaq: AVGO) affirmed its fourth quarter fiscal year 2016 non-GAAP guidance originally provided on September 1, 2016, and tightened revenue outlook based on current business trends and conditions.
Non-GAAP net revenue for the fourth quarter of fiscal year 2016 is now expected to be between $4,100 million to $4,175 million, compared to the previously provided range of $4,025 million to $4,175 million. GAAP net revenue for the fourth quarter fiscal year 2016 is expected to be between $4,090 to $4,165 million, compared to the prior range of $4,015 million to $4,165 million. Projected non-GAAP net revenue includes $10 million of projected licensing revenue not included in GAAP revenue, as a result of the effects of purchase accounting for acquisitions.
*** The Street sees Q4 revenue of $4.11 billion.
Broadcom Limited also announced it will report its fourth quarter and fiscal year 2016 financial results and business outlook on Thursday, December 8, 2016 after the close of the market. Broadcom's management will host a conference call at 2:00 p.m. Pacific Time on the same day to discuss these results and business outlook.
The conference call can be accessed live online in the Investors section of the Broadcom website at www.broadcom.com, or by telephone as follows:
Dial-in: (866) 310-8712; International +1 (720) 634-2946
Participant Passcode: 12782522A replay of the conference call will be accessible for one week following the call as follows:
Replay: (855) 859-2056; International (404) 537-3406; Passcode: 12782522; or through the Investors section of the Broadcom website at www.broadcom.com.
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