Broadcom sees Q2 revs $1.75-1.85 bln vs $1.90 bln Thomson Reuters consensus; GAAP product margin up ~50 bps QoQ
Broadcom beats GAAP ests by $0.05, reports revs in-line; guides Q2 revs below consensus (40.41 +0.25)
Reports Q1 (Mar) earnings of $0.40 per share, $0.05 better than the Thomson Reuters consensus of $0.35; revenues rose 24.2% year/year to $1.82 bln vs the $1.81 bln consensus. Co issues downside guidance for Q2, sees Q2 revs of $1.75-1.85 bln vs. $1.9 bln Thomson Reuters consensus, with product gross margin up ~50 bps QoQ from 48.9%. non-GAAP operating margin of 22.6% vs. the 21.3% consensus; gross margin: 50.7% product gross margin: 48.9%. “In addition, momentum continues to build around our innovative solutions. Following a record year in 2010, we had record design wins in the first quarter, which speaks to the continued underlying strength of our integrated solutions for the Home, Hand and Infrastructure markets.”
