{"id":43873,"date":"2013-04-24T06:40:00","date_gmt":"2013-04-24T06:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/broadcom-beats-q1-earnings-estimates-outlook-on-q2-optimistic-brcm\/43872\/"},"modified":"2013-04-24T06:40:00","modified_gmt":"2013-04-24T06:40:00","slug":"broadcom-beats-q1-earnings-estimates-outlook-on-q2-optimistic-brcm","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/broadcom-beats-q1-earnings-estimates-outlook-on-q2-optimistic-brcm\/43873\/","title":{"rendered":"Broadcom Beats Q1 Earnings Estimates, Outlook on Q2 Optimistic (BRCM)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Shares of Broadcom Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=BRCM\" target=\"_blank\" rel=\"noopener\">NASDAQ: BRCM<\/a>) rallied 5.80% in extended trading hours on Tuesday after the semiconductor company handed better-than-expected fiscal first quarter results, thanks to rapidly expanding smartphone market.<\/p>\n<p><span id=\"more-43873\"><\/span><\/p>\n<p>The Company\u2019s net income more than doubled in the recently concluded quarter as top line was driven by solid demand for connectivity chips and wireless baseband.<\/p>\n<p>Broadcom, which supplies chips to smartphone makers such as Apple Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AAPL\" target=\"_blank\" rel=\"noopener\">NASDAQ: AAPL<\/a>) and Samsung Electronics, has benefitted immensely due to proliferation of smartphone usage.\u00a0 Analysts were little skeptic due to slowdown in demand for iPhones and iPads in the recent past though.<\/p>\n<p>However, Broadcom\u2019s diverse customer base helped in driving the growth. Lately the Company is also trying to gain traction in network processors market.<\/p>\n<p>Addressing analysts in earnings call, Broadcom Corp\u2019s Chief Executive Scott McGregor said, \u201cLooking forward, we see broad-based sequential growth driven by our industry-leading portfolio of wired and wireless communications platform.\u201d<\/p>\n<p>For the fiscal second quarter, the Company expects revenue of approximately $2.1 billion which is higher than analysts\u2019 consensus forecast of $2.05 billion, according to a data compiled by Thomson Reuters.<\/p>\n<p>For the fiscal first quarter, the Irvine CA based Company reported a profit of $191 million or 33 cents a share compared to a profit of $88 million or 15 cents a share, in the year-earlier quarter. Stripping out onetime items, non-GAAP or adjusted earnings came at 65 cents a share while analysts\u2019 consensus forecast was for 56 cents a share.<\/p>\n<p>Revenue during the quarter soared 9.7% to $2 billion. Earlier in January, the Company provided a revenue guidance of about $1.9 billion.<\/p>\n<p>Gross margin increased to 49.4% from 48.1%, in the year-earlier quarter.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130428002816\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fbroadcom-beats-q1-earnings-estimates-outlook-on-q2-optimistic-brcm%2F43873&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130428002816js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/chevron-misses-q1-revenue-estimate-but-earnings-beat-expectations-cvx\/43980\">\nChevron Misses Q1 Revenue Estimate but Earnings Beat Expectations (CVX)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/burger-king-beats-q1-estimates-bkw\/43978\">\nBurger King Beats Q1 Estimates (BKW)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-63\/43971\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-slip\/43967\">\nGold Prices Settle Lower; Silver Prices Slip<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-float-in-red-territory\/43964\">\nStocks Float in Red Territory<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-after-gdp-data\/43962\">\nStocks Mixed After GDP Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-falls-sharply-against-yen\/43958\">\nForex Market Update: U.S. dollar Falls Sharply against Yen<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130428002816im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Broadcom Corporation (NASDAQ: BRCM) rallied 5.80% in extended trading hours on Tuesday after the semiconductor company handed better-than-expected [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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