Broadcom’s full-year forecast fails to impress Wall Street, shares down

(Reuters) - Broadcom Inc's fourth-quarter earnings beat Street estimates on Thursday, but investors were put off by slowing growth in semiconductor business and a lukewarm revenue forecast for 2020, sending its shares down about 2% in extended trade. The 17-month long trade war between the United States and China and sanctions on China's Huawei Technologies pressured its core semiconductor business for the past few quarters. The company expects 2020 full-year revenue to be about $25 billion (£19.49 billion), plus or minus $500 million, beating analysts' estimate of $23.79 billion, according to IBES data from Refinitiv

The post Broadcom’s full-year forecast fails to impress Wall Street, shares down appeared first on Firstpost.

from Firstpost