Published December 14, 2011
The more rosy guidance sent the Irvine, Calif.-company’s stock soaring about 7% in premarket action.
Broadcom said it now sees fourth-quarter revenue of about $1.8 billion, up from $1.7 billion to $1.8 billion previously. Analysts had been calling for sales of $1.76 billion.
Likewise, Broadcom increased its product gross margin view to roughly flat sequentially, up from an earlier forecast of flat to slightly lower.
"Broadcom's Q4 is coming in stronger than expected driven by solid shipments and tight operational management," Broadcom CEO Scott McGregor said in a statement.
Shares of Broadcom were recently up 6.49% to $30.02 ahead of the open.
Chemical giant DuPont (DD) on Tuesday lowered its 2011 EPS view, but also issued upbeat guidance for 2012.