Broadcom Corporation’s (BRCM) Earnings Estimates Raised
February 05, 2010 3:20 PM
Credit Suisse (ADR) (NYSE: CS) has released an update on Broadcom Corporation (NASDAQ: BRCM) in its tech daily report released yesterday. The company has reported results for the fourth-quarter.
Broadcom reported a 7.1% quarter-over-quarter increase in revenue. The revenue growth was led by Enterprise, which increased 18% quarter-over-quarter, and Broadband, which increased 14% quarter-over-quarter. The company reported EPS of $0.49 for the quarter.
The company initiated an $0.08 per quarter dividend. According to analysts, this should not be taken as an indication for lack of growth opportunity.
Credit Suisse has raised the first-quarter estimates for the company. The EPS has been raised from $0.37 on sales of $1.28 billion to $0.47 on sales of $1.37 billion. Credit Suisse has maintained an Outperform rating for Broadcom Corporation, with a price target of $33.
