December 12, 2019 / 9:27 PM / 8 months ago

Broadcom forecasts full-year revenue above estimates

Dec 12 (Reuters) - Broadcom Inc forecast full-year 2020 revenue above Wall Street estimates on Thursday, as the company expects strong demand for its chips from rising 5G adoption.

The company expects full-year revenue to be about $25 billion, plus or minus $500 million, beating analysts’ estimate of $23.79 billion, according to IBES data from Refinitiv.

Net income attributable to common stock fell to $818 million, or $1.97 per share, in the fourth quarter ended Nov. 3, from $1.12 billion, or $2.64 per share, a year earlier.

The company announced a quarterly dividend of $3.25 per share. (Reporting by Ayanti Bera in Bengaluru)

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