Fresh Earnings Beats From AVGO, LULU

By Zacks Investment ResearchStock MarketsDec 06, 2017 05:53AM ET

www.investing.com/analysis/fresh-earnings-beats-from-avgo-lulu-200271141

Fresh Earnings Beats From AVGO, LULU

By Zacks Investment Research | Dec 06, 2017 05:53AM ET

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QCOM

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Just when you thought earnings season was over… shares of both lululemon (NASDAQ:LULU) and Broadcom (NASDAQ:AVGO) are up in late trading today following their respective Q3-18 and Q4-17 earnings reports. Even beneath their headline beats, both companies raised guidance and supplied investors with plenty of goodies heading into holiday season.

Broadcom, noteworthy lately for its move to buy out like-sized competitor Qualcomm (NASDAQ:QCOM) , outperformed analyst expectations on both top and bottom lines. Earnings of $4.59 per share outpaced the Zacks consensus of $4.52 on quarterly revenues of $4.85 billion, better than the $4.83 billion analysts were looking for. Guidance for fiscal Q1 2018 on the top line was raised to around $5.3 billion, well beyond the Q4 actual and the Q1 estimate of around $4.8 billion.

A full $2.2 billion in revenues came from the company’s Wired business, with $1.8 billion coming from Wireless. Further, Broadcom has considerably upped its interim quarterly dividend by 72%. Shares are up more than a point and a half in after-hours trading, but have been trading down since Thanksgiving.

lululemon, for its part, brought forth a 4-cent beat on its bottom line to 56 cents per share. Quarterly revenues easily surpassed the $610 million expected to $619 million in the quarter. This marks the third-straight positive earnings surprise, with a trailing 4-quarter average positive surprise of 8.5%. Comps rose 7% in the quarter, but with limited brick-and-mortar options (388 stores overall) it’s clear much of this growth for lululemon has come on-line. The company also raised Q4 guidance. For more on LULU’s earnings report, click here.

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QUALCOMM Incorporated (QCOM): Free Stock Analysis Report

Broadcom Limited (AVGO): Free Stock Analysis Report

lululemon athletica inc. (LULU): Free Stock Analysis Report

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Fresh Earnings Beats From AVGO, LULU

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