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Brocade misses on top, bottom lines in Q3

Published 08/24/2017, 04:14 PM
© Reuters.  Brocade misses on top, bottom lines in Q3
AVGO
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BRCD
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  • Brocade Communications (BRCD -0.5%) saw revenues and profits both decline and miss expectations in its Q3 earnings ahead of an acquisition by Broadcom.
  • The company swung to a loss of $0.05 in GAAP terms, vs. a year-ago gain of $0.02; in non-GAAP terms, EPS of $0.16 was down from a year-ago $0.21.
  • Revenue breakout: Product, $449.5M (-8.4%); Service, $99.7M (flat).
  • SAN Product revenue fell 2% Y/Y to $276M, due to lower fixed-configuration and embedded switch sales. IP Networking product revenue dropped 17%, to $174M, mainly due to lower wired switch and router revenue, partly offset by wireless gains made through the acquisition of Ruckus Wireless.
  • No guidance or call due to the pending acquisition by Broadcom (NASDAQ:AVGO).
  • Press Release
  • Now read: AMD's Unsolved Graphics Problems


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