Broadcom raised its Q4 2011 financial guidance, citing strong shipments. The new guidance:
- Net Revenue: Increased to the high end of the prior range to approximately $1.8 billion.
- Product Gross Margin (GAAP and Non-GAAP): Increased to the high end of the prior range to roughly flat sequentially.
- R&D Plus SG&A Expenses (GAAP and Non-GAAP): Estimated to be approximately $5 million favorable on a GAAP basis and at the midpoint of prior guidance on a non-GAAP basis due to slower than anticipated hiring ramps and certain credits in the period.
- Ending Cash & Marketable Securities: Increase sequentially to approximately $5.1 billion on strong cash flow and a completed debt offering.
“Broadcom’s Q4 is coming in stronger than expected driven by solid shipments and tight operational management,” said Scott McGregor, President and Chief Executive Officer of Broadcom.
Broadcom held its 2011 Analyst Day Conference on December 14. An archived webcast is online.
http://www.broadcom.com