Broadcom Raises Low End Of Q4 Revenue Outlook

(RTTNews) - Broadcom Corp. (BRCM) said Tuesday that it now expects fourth quarter revenue to be in the range of $2.075 billion to $2.150 billion, compared to its prior guidance of $2.00 billion to $2.15 billion.

Analyst polled by Thomson Reuters currently expect the company to post revenue of $2.09 billion for the fourth quarter.

The company also said that its quarterly dividend will increase by $0.02 per share, to $0.14 per share or $0.56 on an annual basis, a 17% year-over-year increase, beginning with the dividend that will be declared in the first quarter of 2015.

The company also announced a $1 billion stock buyback authorization in 2015.