All
 

 

Just in:  

You are here: Home»Fuel & Energy»Pakistan»Broadcom revenue forecast misses views

Broadcom revenue forecast misses views

Broadcom, which faces growing competition in mobile chips, on Tuesday forecast fourth-quarter revenue that was below Wall Street expectations, sending its shares lower even as third-quarter results topped views. Broadcom also said that during the third quarter it started a restructuring plan to reduce expenses, including cutting its workforce by up to 1,150 employees.

Related to that, the company recorded a $12 million restructuring cost in the third quarter and will record another for $20 million in the current quarter. Worries about Broadcom's slow progress launching Long Term Evolution baseband technology as well as concerns about growing competition selling connectivity chips used in smartphones have hurt the company's stock, which has fallen 19 percent in 2013. "They've got a wireless business where they dominate but they're under a long term competitive threat from other players," said Bernstein analyst Stacy Rasgon.

Like larger Intel, Broadcom has been slow to launch chips featuring multimode, carrier-validated LTE, or Long Term Evolution, a technology allowing fast data transfer rates in smartphones that has become widely adopted in the United States. Last month, Broadcom said it was buying Japanese chipmaker Renesas Electronics' LTE-related assets for $164 million to speed up its launch of next-generation Long Term Evolution communications technology.

Copyright Reuters, 2013



 



 
Index Closing Chg%
Arrow DJIA 16,399.67 0.12
Arrow Nasdaq 4,316.07 1.35
Arrow S&P 1,904.01 0.91
Arrow FTSE 6,267.07 0.68
Arrow DAX 8,717.76 1.50
Arrow CAC-40 3,991.24 1.04
Arrow Nikkei 15,111.23 3.98
Arrow H.Seng 23,070.26 0.20
Arrow Sensex 26,429.85 1.23





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln