Broadcom sees Q1 results ahead of estimates, offers upside Q2 guidance
- Q1: Co sees EPS of ~$5.10 vs $4.95 Capital IQ Consensus Estimate, sees revs of $5.3-5.35 bln vs $5.30 bln Capital IQ Consensus Estimate
- Q2: Co sees revs of $4.925-5.075 bln vs $4.91 bln Capital IQ Consensus Estimate
- "Our first quarter results are tracking towards the higher end of our expectations as we continue to execute on our business model," said Hock Tan, President and CEO of Broadcom Limited. "Looking ahead to our second fiscal quarter, strong data center demand for our wired and enterprise storage products and a seasonal pick up in broadband is expected to offset a greater than seasonal decline in wireless. As a result, we currently forecast on a normalized 13-week quarter basis, that second quarter revenue will be roughly flat to the previous quarter.