Fiscal 4Q17 revenues expected to reach $4.9 billion
Broadcom (AVGO) recently provided an update on its fiscal 4Q17[1. fiscal 4Q17 ended October 29, 2017] financial outlook. These results are expected to be released in December 2017.
In the outlook update, Broadcom noted that it expects revenues to reach the higher end of the revenue guidance it had issued on August 24, when it also released fiscal 3Q17 results.
In its original fiscal 4Q17 outlook, Broadcom guided for revenues of slightly less than $4.8 billion on a GAAP[2. generally accepted accounting principles] basis. The updated outlook implies that Broadcom expects fiscal 4Q17 revenues of $4.9 billion.
Top-line growth of 19.5% expected
Broadcom (AVGO) reported revenues of $4.1 billion in fiscal 4Q16, which implies that the company is expecting top-line growth of 19.5% YoY (year-over-year) in fiscal 4Q17.
The company’s revenues grew 125.0% YoY in fiscal 4Q16, driven primarily by the $37.0 billion merger between Avago Technologies and Broadcom Corporation, which was completed on February 1, 2016.
The merger resulted in the creation of Broadcom Limited, which is incorporated in Singapore and co-headquartered in the US (SPY) and Singapore.
Revenues grew 18% in fiscal 3Q17
In fiscal 3Q17, the latest reported quarter, Broadcom reported revenues of $4.5 billion on a GAAP basis, up 18% year-over-year. Broadcom’s revenue growth in fiscal 3Q17 compared favorably with the growth of several of its industry peers.
Texas Instruments’ (TXN) revenues rose 12.0% YoY, Marvell Technology’s (MRVL) revenues fell 3.5% YoY, and Analog Devices’ (ADI) revenues increased 64.4% YoY in the periods corresponding to Broadcom’s fiscal 3Q17.