Broadcom Ltd. (AVGO) Tops Q3 EPS by 12c, Offers Outlook
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Broadcom Ltd. (NASDAQ: AVGO) reported Q3 EPS of $2.89, $0.12 better than the analyst estimate of $2.77. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.76 billion.
GUIDANCE:
Fourth Quarter Fiscal Year 2016 Business Outlook
Based on current business trends and conditions, the outlook for continuing operations for the fourth quarter of fiscal year 2016, ending October 30, 2016, is expected to be as follows:
| GAAP | Reconciling Items | Non-GAAP | ||||
| Net revenue | $4,090M +/- $75M | $10M | $4,100M +/- $75M | |||
| Gross margin | 52.25% +/- 1% | $341M | 60.50% +/- 1% | |||
| Operating expenses | $1,450M | $642M | $808M | |||
| Interest expense and other | $153M | $49M | $104M | |||
| Provision for (benefit from) income taxes | ($295)M | ($366)M | $71M | |||
| Diluted share count | 434M | 14M | 448M |
(Street sees Q4 revenue of $4.06 billion)
For earnings history and earnings-related data on Broadcom Ltd. (AVGO) click here.
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