Factors To Consider Ahead Of Broadcom's (AVGO) Q4 Earnings
Zacks Investment Research | Dec 08, 2019 10:20PM ET
Broadcom (NASDAQ:AVGO) is slated to report fourth-quarter fiscal 2019 results on Dec 12.
The Zacks Consensus Estimate for revenues for fiscal fourth quarter is pegged at $5.76 billion, indicating an improvement of 5.7% from the year-ago quarter.
We note that the Zacks Consensus Estimate for earnings has increased by 2 cents in the past 30 days to $5.39 per share. The figure suggests a decline of 7.9% from the year-ago reported figure.
Notably, the company has surpassed the Zacks Consensus Estimate in the trailing four quarters by 3.38%, on average.
In third-quarter fiscal 2019, Broadcom reported non-GAAP earnings of $5.16 per share, which beat the Zacks Consensus Estimate by 5 cents and improved 3.6% from the year-ago quarter.
Non-GAAP revenues from continuing operations were $5.515 billion, up 8.9% from the year-ago quarter, outpacing the Zacks Consensus Estimate of $5.501 billion.
Let’s see how things are shaping up for this announcement.
Factors at Play
Broadcom’s fiscal fourth-quarter revenues are expected to have benefited from synergies from the CA and Brocade buyouts.
Moreover, the company had inked a deal to acquire Symantec’s enterprise security business for $10.7 billion in cash in the fiscal third quarter, with an aim to expand presence in infrastructure software space. Symantec’s strength in enterprise business and substantial customer base is likely to get reflected on the fiscal fourth-quarter performance.
Broadcom Inc. Price and EPS Surprise
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