Broadcom Lifts Q4 Revenue Guidance - Quick Facts

(RTTNews) - Chip maker Broadcom Corp. (BRCM) said Tuesday that it raised its fourth quarter of 2013 net revenue outlook to a range of approximately $2.0 billion - $2.05 billion, due to better-than-expected revenue in each reportable segment, particularly in Infrastructure & Networking. Analysts polled by Thomson Reuters expect the company to report earnings revenues of $1.98 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

In late-October, the company expected revenue of $1.975 billion plus or minus 3 percent for the fourth quarter.

The company now expects Product Gross Margin for the fourth to down about 50 - 75 basis points on both a GAAP and non-GAAP basis. In October, the company expected gross margin for the quarter to drop 50 to 100 basis points sequentially.

The company reduced R&D Plus SG&A Expenses guided sequential growth range for the fourth-quarter to up approximately $30 million to $50 million on both a GAAP and non-GAAP basis due to tighter expense management.