Broadcom reported quarterly earnings that surpassed analyst estimates, but with revenues slightly below expectations.
For its fiscal third quarter, the semiconductor company’s adjusted earnings came in at $5.16 a share, beating Wall Street estimates of $5.13. GAAP earnings of $1.71 also were higher than forecasts of $1.21.
Revenue in the quarter increased +9% year-over-year to $5.515 billion, just missed analysts expectations of $5.516 billion.
Looking ahead, Broadcom expects full fiscal year 2019 revenue of $22.5 billion, maintaining its prior forecast. But the figure is slightly below analyst estimates of $22.6 billion. The company predicts that its adjusted operating margin would be 52.5% for the year, also unchanged from previous projection. The company’s expectation of full-year capital expenditure remained at $500 million.