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Broadcom sees fourth-quarter revenue declineUS-BROADCOM-EARNINGS:Broadcom sees fourth-quarter revenue decline
NEW YORK (Reuters) - Broadcom Corp forecast a decline in revenue for the fourth quarter citing challenging market conditions even as its third-quarter revenue was ahead of Wall Street expectations.
The weak outlook from the maker of chips used in everything from cellphones to computers follows weak results at other chip makers such as Texas Instruments and Intel Corp.
Broadcom said it now expects revenue to decline to a range of $1.95 billion to $2.1 billion, below Wall Street expectations for $2.11 billion, according to Thomson Reuters I/B/E/S.
Broadcom posted a profit of $220 million, or 38 cents per share, compared with $270 million, or 48 cents per share, in the year-ago quarter.
Revenue rose to $2.13 billion from $1.96 billion and compared with analyst expectations for $2.09 billion according to Thomson Reuters I/B/E/S.
(Reporting by Sinead Carew; Editing by Gary Hill and Leslie Gevirtz)
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