Avago Tech (AVGO) Tops Q2 EPS by 12c; Issues Q3 Outlook

May 28, 2015 7:06 AM

Avago Tech (NASDAQ: AVGO) reported Q2 EPS of $2.13, $0.12 better than the analyst estimate of $2.01. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.63 billion.

Third Quarter Fiscal Year 2015 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for the third quarter of fiscal year 2015, ending August 2, 2015, including projected contributions from the Emulex acquisition, is expected to be as follows:

GAAPReconciling ItemsNon-GAAP
Sequential Change in Net Revenue$1,729M +/- $25M$11M$1,740M +/- $25M
Gross Margin49.5% +/- 1%$187M60.00% +/- 1%
Operating Expenses$513M$178M$335M
Interest and Other$42M($1M)$43M
Taxes$15M$25M$40M
Diluted Share Count287M8M295M

Projected reconciling items:

Capital expenditures for the third fiscal quarter are expected to be approximately $160 million. For the third fiscal quarter, depreciation is expected to be $52 million and amortization is expected to be $180 million.

For earnings history and earnings-related data on Avago Tech (AVGO) click here.

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Earnings Guidance

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