Broadcom to report earnings and revenue expectations, suggests a delayed Apple iPhone launch this year
On Thursday, the semiconductor manufacturing company Broadcom Inc. (AVGO.O) posted its second-quarter revenue estimates worth $5.742 billion and suggests a delay on the Apple Inc.’s (AAPL.O) iPhone 12 launch on the first week of September 2020.
According to IBES data from Refinitiv, the chipmaker company was expected to report $5.79 billion in sales and earnings of $5.14 per share.
“We would normally expect to see a double-digit sequential uplift in revenue from the ramp of a next-generation phone at our large North American mobile phone customer,” Broadcom’s Chief Executive Officer Hock Tan said in a conference call.
“However, this year, we do not expect to see this uptick in revenue until our fourth fiscal quarter,” he added.
Hock Tan pointed out that the global coronavirus pandemic has caused logistical delays with lockdowns and disrupted travel that caused employees to work from home.
Broadcom shares fluctuated between slight gains and losses in the extended session after its revenue report on Thursday.