Broadcom (BRCM) Beats Q4 Views; Issues Firm Revs Outlook
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Price: $54.67 --0%
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Financial Fact:
Impairments of long-lived assets: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Broadcom Corp. (Nasdaq: BRCM) shares are trading higher Tuesday following its fourth-quarter report which saw strong results all around.
Revenue for Broadcom fell 6.4 percent to $1.82 billion, beating views calling for revs of just $1.80 billion.
Net income fell 4.5 percent to $254 million, or 45 cents per diluted share. Excluding certain one-time items, earnings were 68 cents per share, topping the Street views by 3 cents.
"Broadcom delivered solid results in 2011, as we gained significant market share, secured record design wins across our businesses, and delivered record revenue and cash flow from operations," commented CEO Scott McGregor.
Looking ahead, Broadcom sees first-quarter revs of $1.7 billion to $1.8 billion and gross margin to stay flat sequentially. The Street is looking for revs of $1.73 billion.
Shares are up about 2.6 percent in late trading Tuesday.
Revenue for Broadcom fell 6.4 percent to $1.82 billion, beating views calling for revs of just $1.80 billion.
Net income fell 4.5 percent to $254 million, or 45 cents per diluted share. Excluding certain one-time items, earnings were 68 cents per share, topping the Street views by 3 cents.
"Broadcom delivered solid results in 2011, as we gained significant market share, secured record design wins across our businesses, and delivered record revenue and cash flow from operations," commented CEO Scott McGregor.
Looking ahead, Broadcom sees first-quarter revs of $1.7 billion to $1.8 billion and gross margin to stay flat sequentially. The Street is looking for revs of $1.73 billion.
Shares are up about 2.6 percent in late trading Tuesday.
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