Broadcom (BRCM) Raises Q4 Outlook Due to Stronger Shipments, Shares Moving Higher
Tweet
Share
E-mail
Get Alerts BRCM Hot Sheet
Price: $54.67 --0%
Financial Fact:
Selling, general and administrative: 177M
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Selling, general and administrative: 177M
Today's EPS Names:
EDXC, BICX, FBPI, More
Join SI Premium – FREE
Broadcom Corporation (NASDAQ: BRCM) today updated its financial guidance for the fourth quarter of 2011 at its 2011 Analyst Day in New York. Shares of BRCM are trading up over 6 percent following the news.
The company's new estimates are based on the current business outlook. BRCM now forecasts net revenues will be closer to $1.8 billion while gross marin will be at the high end of the it's prior range to roughly flat sequentially. The Street is forecasting sales of $1.77 billion for the quarter on $0.61 per share in earnings.
R&D Plus SG&A Expenses are estimated to be approximately $5 million favorable on a GAAP basis and at the midpoint of prior guidance on a non-GAAP basis due to slower than anticipated hiring ramps and certain credits in the period.
Ending Cash & Marketable Securities are expected to increase sequentially to approximately $5.1 billion on strong cash flow and a completed debt offering.
"Broadcom's Q4 is coming in stronger than expected driven by solid shipments and tight operational management," said Scott McGregor, President and Chief Executive Officer of Broadcom.
The company's new estimates are based on the current business outlook. BRCM now forecasts net revenues will be closer to $1.8 billion while gross marin will be at the high end of the it's prior range to roughly flat sequentially. The Street is forecasting sales of $1.77 billion for the quarter on $0.61 per share in earnings.
R&D Plus SG&A Expenses are estimated to be approximately $5 million favorable on a GAAP basis and at the midpoint of prior guidance on a non-GAAP basis due to slower than anticipated hiring ramps and certain credits in the period.
Ending Cash & Marketable Securities are expected to increase sequentially to approximately $5.1 billion on strong cash flow and a completed debt offering.
"Broadcom's Q4 is coming in stronger than expected driven by solid shipments and tight operational management," said Scott McGregor, President and Chief Executive Officer of Broadcom.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) Tops Q2 EPS by 7c, Beats on Revenue; Offers FY27 EPS Guidance
- Lowe's (LOW) PT Lowered to $250 at Mizuho
- Youdao, Inc. (DAO) Tops Q2 EPS by 50c
Create E-mail Alert Related Categories
Guidance, Hot GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
