LONDON – Wireless and broadband fabless chip company Broadcom Corp. has raised its financial guidance for the fourth quarter of 2011. The company has increased it net revenue guidance to high-end of the previous range to approximately $1.8 billion.
"Broadcom's Q4 is coming in stronger than expected driven by solid shipments and tight operational management," said Scott McGregor, CEO of Broadcom, in a statement.
Broadcom's raised guidance differs from many other companies' behavior including Intel, Texas Instruments, Altera, FormFactor, Sequans, which have all lowered guidance often citing weak demand. Nonetheless Broadcom's net revenue is forecast to show a sequential decline from $1.96 billion in the third quarter of 2011.
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FormFactor, Sequans cut Q4 outlooks