Broadcom misses quarterly revenue estimates, maintains full-year forecast

Broadcom misses quarterly revenue estimates, maintains full-year forecast

Broadcom Inc reported quarterly revenue that missed Wall Street expectations on Thursday, as the company faces a slowdown in chip demand and macroeconomic uncertainty due to the U.S.-China trade war.

FILE PHOTO: A sign to the campus offices of chipmaker Broadcom Ltd is shown in Irvine
FILE PHOTO: A sign to the campus offices of chipmaker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Photo

REUTERS: Broadcom Inc reported quarterly revenue that missed Wall Street expectations on Thursday, as the company faces a slowdown in chip demand and macroeconomic uncertainty due to the U.S.-China trade war.

Net revenue rose to US$5.52 billion in the third quarter ended Aug. 4, from US$5.06 billion a year earlier. Analysts had expected US$5.54 billion, according to IBES data from Refinitiv.

The chipmaker maintained its forecast for full-year 2019 revenue of US$22.50 billion, which also came in below analysts' estimates of US$22.6 billion.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)

Source: Reuters

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