Broadcom (BRCM) Tops Q1 EPS by 4c, Offers Q2 Guidance

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April 21, 2015 4:06 PM EDT

(Updated - April 21, 2015 4:56 PM EDT)

Broadcom (NASDAQ: BRCM) reported Q1 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $2.06 billion versus the consensus estimate of $2.01 billion.

"Broadcom delivered better-than-expected results in the March quarter driven by strength in the high-end smartphone and broadband access markets," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Looking to the June quarter, we see operating performance continuing to strengthen on tight operating expense discipline and strong margins, consistent with our objective of driving profitable growth."

Broadcom sees Q2 revenue of $2.1 billion plus or minus $75 million, compare to the consensus of $2.07 billion.

BROADCOM CORPORATION

Guidance for the Three Months Ending June 30, 2015

Three Months Ending

June 30, 2015

Net revenue

~$2.10 billion +/- $75 million

Gross margin (GAAP)

54.5% +/- 75 basis points

Gross margin (Non-GAAP)

56.0% +/- 75 basis points

Research & development, and selling, general & administrative expenses

Down ~$15 million +/- $10 million from Q1'15

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


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