Broadcom (AVGO) Misses Q1 EPS by 8c, Offers Q2 Guidance, Withdraws Annual Guidance

Broadcom (NASDAQ: AVGO) reported Q1 EPS of $5.25, $0.08 worse than the analyst estimate of $5.33. Revenue for the quarter came in at $5.86 billion versus the consensus estimate of $6 billion.

GUIDANCE:

Broadcom sees Q2 2020 revenue of $5.7 billion, versus the consensus of $5.94 billion.

• In light of the uncertainties in the global business environment arising from the effects of COVID-19, the Company is withdrawing its prior annual guidance for fiscal year 2020, and providing guidance for its second fiscal quarter.
• Second quarter Adjusted EBITDA of $3,135 million plus or minus $75 million, or 55% of revenue at the midpoint of guidance(1)

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

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