- Stifel has interesting comments on Broadcom (NASAQ:BRCM) noting that for its second quarter results, because of the ongoing audit and the uncertainty of the firm's cost and expense structure, the company will report only revenue, its cash position, and give only revenue guidance for the third quarter. No EPS or other income statement data will be provided.
With the options issue hanging over its head and with the macro environment showing some signs of a weaker consumer market, or maybe just normal summer seasonality following a stronger than normal first quarter, the firm believes Broadcom will likely be prudently conservative in its third quarter guidance. The Street consensus is currently for sequential growth of about 5%, which generally matches their forecast. However, they believe this growth rate was likely a best case scenario and would not be surprised by guidance closer to flat sequentially.
Notablecalls: Would not be surprised to see some weakness in BRCM following the call. Note that BRCM is scheduled to release results on Thursday.
With the options issue hanging over its head and with the macro environment showing some signs of a weaker consumer market, or maybe just normal summer seasonality following a stronger than normal first quarter, the firm believes Broadcom will likely be prudently conservative in its third quarter guidance. The Street consensus is currently for sequential growth of about 5%, which generally matches their forecast. However, they believe this growth rate was likely a best case scenario and would not be surprised by guidance closer to flat sequentially.
Notablecalls: Would not be surprised to see some weakness in BRCM following the call. Note that BRCM is scheduled to release results on Thursday.
No comments:
Post a Comment