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Broadcom (BRCM) Misses Q2 EPS by 3c, Offers Q3 Guidance

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July 30, 2015 4:20 PM EDT

Broadcom (NASDAQ: BRCM) reported Q2 EPS of $0.72, $0.03 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.11 billion.

"Broadcom delivered revenue that was up sequentially and year over year during the second quarter, driven by growth in the high-end smartphone, broadband access, and networking markets," said Scott McGregor, Broadcom's President and Chief Executive Officer. "The most important news in the quarter was the May 28th announcement of the agreement for Avago Technologies Limited to acquire Broadcom. Once closed, we expect this transaction to create the world's leading diversified communications semiconductor company with combined annual revenue of approximately $15 billion. We expect this transaction to significantly enhance long term shareholder value and are excited about the future of the combined company."

Broadcom sees FY2015 revenue of $2.135 billion, versus the consensus of $2.24 billion.

BROADCOM CORPORATION

Guidance for the Three Months Ending September 30, 2015

Three Months Ending

September 30, 2015

Net revenue

~$2.135 billion +/- $75 million

Gross margin (GAAP)

53.8% +/- 75 basis points

Gross margin (Non-GAAP)

55.3% +/- 75 basis points

Research & development, and selling, general & administrative expenses

Down ~$10 million +/- $10 million from Q2'15

For earnings history and earnings-related data on Broadcom (BRCM) click here.


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