Broadcom's revenue forecast disappoints on weakness in chip business

Broadcom Inc on Thursday forecast current-quarter revenue, the mid-point of which was slightly below Wall Street estimates as its chip business was weighed down by the impact of the coronavirus crisis on global supply chains.

FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File PhotoREUTERS: Broadcom Inc on Thursday forecast current-quarter revenue, the mid-point of which was slightly below Wall Street estimates as its chip business was weighed down by the impact of the coronavirus crisis on global supply chains.

The company forecast third-quarter revenue of about US$5.75 billion, plus or minus US$150 million. Analysts on average were expecting US$5.79 billion, according to IBES data from Refinitiv.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zoom earnings soar, doubles revenue forecast as video meetings become pandemic normSAN FRANCISCO (AFP, REUTERS) - Zoom on Tuesday (June 2) reported that its earnings soared as its video-meeting service became a popular way to work or socialize while hunkered down due to the pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »