Broadcom Drops 5% Despite FYQ3 Beat, Higher Q4 Rev View
finance.yahoo.com
Barrons.comAugust 24, 2017
Chip giant Broadcom (AVGO) this afternoon reported fiscal Q3 revenue and profit that topped analysts’ expectations, and forecast this quarter’s revenue slightly higher as well, though its shares fell sharply in late trading. One analyst, Amit Daryanani with RBC Capital, wrote in a note shortly after the report that the results, being “largely in line” with Street expectations, were “not enough for now." Revenue in the three months ended in July rose 17%, year over year, to $4.467 billion, yielding EPS of $4.10, excluding some costs. Broadcom’s gross profit margin of 63.3% was up from 63.1% in the prior quarter, and 60.4% a year earlier, on a non-GAAP basis. |
