Broadcom (AVGO) Tops Q1 EPS by 11c, Offers Q2 Guidance

Broadcom (NASDAQ: AVGO) reported Q1 EPS of $2.41, $0.11 better than the analyst estimate of $2.30. Revenue for the quarter came in at $1.77 billion versus the consensus estimate of $1.75 billion.

GUIDANCE:

Second Quarter Fiscal Year 2016 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for the second quarter of fiscal year 2016, ending May 1, 2016, including projected contributions from the combined Avago and BRCM businesses, is expected to be as follows:

GAAP Reconciling Items Non-GAAP
Net Revenue $3,533M +/- $75M $17M $3,550 +/- $75M
Gross Margin 30.75% +/- 1% $1,001M 59.00% +/- 1%
Operating Expenses $2,147M $1,315M $832M
Interest and Other $302M $141M $161M
Taxes provision (benefit) ($120)M ($170)M $50M

(Street sees Q2 EPS of $2.20 on revenue of $3.57 billion)

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

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