Broadcom Narrows Q1 Revenue Guidance Range - Quick Facts

(RTTNews) - Broadcom Limited (AVGO) announced, for the first quarter of fiscal 2018, which is a 14-week quarter, the company expects non-GAAP net revenue in the range of $5.30 billion to $5.35 billion. The company expects non-GAAP earnings per share to be approximately $5.10 per share.

For the second quarter of fiscal 2018, which is a typical 13-week quarter, the company expects non-GAAP net revenue in the range of $5.00 billion, plus or minus $75 million.

"Our first quarter results are tracking towards the higher end of our expectations as we continue to execute on our business model. Looking ahead to our second fiscal quarter, strong data center demand for our wired and enterprise storage products and a seasonal pick up in broadband is expected to offset a greater than seasonal decline in wireless. As a result, we currently forecast on a normalized 13-week quarter basis, that second quarter revenue will be roughly flat to the previous quarter," said Hock Tan, President and CEO of Broadcom.