Wednesday, December 14, 2011
Broadcom Raises Outlook
In a sign of the strength, Irvine-based Broadcom said Wednesday morning that it is raising its financial guidance for the fourth quarter of 2011. The firm raised its forecast to about $1.8 billion, above analyst averages. Broadcom said that the rise in estimates was due to "stronger than expected" shipments, plus tight operational management. Broadcom also said it will have around $5.1 billion in cash and marketable securities in the quarter, based on strong cash flow and a completed debt offering.