Broadcom Expects Its Earnings to Bounce Back

📆 12/13/2019 8:20 AM
📰 WSJ

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U.S.-China trade tensions hurt Broadcom in its just-ended financial year, but the chip maker is optimistic about the outlook for semiconductors

Broadcom Inc. promised an earnings recovery in the current financial year after the chip maker posted weaker fourth-quarter figures, dented by the protracted U.S. export ban of some items to Chinese telecom giant Huawei Technologies Co.

Broadcom said per-share earnings fell to $1.97 in the final quarter of the year ended Nov. 3, compared with $2.64 a year earlier. The more closely watched adjusted earnings, which strip out some one-time items, fell 8% to $5.39 a share, in line with expectations from analysts surveyed by FactSet.

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