Broadcom Updates Selected Q4 Guidance
Broadcom is broadcasting some encouraging news to its investors. The company this week updated the guidance for its current Q4 2013, saying it now expects $2.00 billion to $2.05 billion in revenue. This is a higher range than the firm's previous projection of $1.92 billion to $2.03 billion.
The upper end of the range, however, is below the $2.15 billion top line Broadcom posted in its Q3.
Meanwhile, the company anticipates lower costs for the current quarter when compared to prior estimates. On a GAAP basis, research and development spending, combined with selling, general, and administrative expenses, should amount to $820 million to $840 million; the previous range was $830 million to $850 million.
Broadcom said the new net revenue figures were due to "better-than-expected revenue in each reportable segment, particularly in Infrastructure & Networking." It also cited "tighter expense management."
The article Broadcom Updates Selected Q4 Guidance originally appeared on Fool.com.
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