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Broadcom's revenue forecast disappoints on weakness in chip business

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Broadcom Inc on Thursday forecast current-quarter revenue, the mid-point of which was slightly below Wall Street estimates as its 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.

 

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