Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today updated its financial guidance for the fourth quarter of 2013.
The following estimates are based on the current business outlook:
- Net Revenue: Increased the guided range for Q4'13 revenue to approximately $2.0 – $2.05 billion, due to better-than-expected revenue in each reportable segment, particularly in Infrastructure & Networking.
- Product Gross Margin: Improved the guided range for Q4'13 to down approximately 50 – 75 bps on both a GAAP and non-GAAP basis.
- R&D Plus SG&A Expenses: Reduced guided sequential growth range for Q4'13 to up approximately $30 to $50 million on both a GAAP and non-GAAP basis due to tighter expense management.
For further information regarding Broadcom's updated guidance for the fourth quarter of 2013, see the "Updated Guidance for the Three Months Ending December 31, 2013" at the end of this release. Broadcom's fourth quarter business outlook was originally published in the company's third quarter 2013 earnings release. To access a webcast of the company's 2013 Analyst Day including the associated slides, please go to the Investor Relations section of Broadcom's website at www.broadcom.com/investors.
Broadcom Corporation (NASDAQ: BRCM), a FORTUNE 500® company, is a global leader and innovator in semiconductor solutions for wired and wireless communications. Broadcom® products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. With the industry's broadest portfolio of state-of-the-art system-on-a-chip and embedded software solutions, Broadcom is changing the world by Connecting everything®. For more information, go to www.broadcom.com.