Broadcom Guidance for 2FQ18

Broadcom Inc. narrowed the range for its revenue outlook for the second quarter of fiscal year 2018, ending May 6, 2018.  

For the second quarter of fiscal year 2018, the company expects non-GAAP net revenue in the range of $5,000 million plus or minus $25 million. The company affirms all other non-GAAP guidance provided on March 15, 2018 for the second quarter.
 
For the third quarter of fiscal year 2018, the company expects non-GAAP net revenue in the range of $5,050 million, plus or minus $75 million.

“Our second quarter results reflect robust demand from datacenters which drove strong growth in our wired and enterprise storage segments while wireless was weak,” said Hock Tan, president and CEO. “Looking ahead to our third fiscal quarter, we expect continued strength in demand from datacenters while wireless remains weak.”

“We remain focused on driving free cash flow growth per share and expect second quarter fiscal year 2018 free cash flow to exceed 40% of revenue,” said Tom Krause, CFO. “We are taking this opportunity to reaffirm our commitment to continuing to return free cash flow to shareholders and are increasing our open market buyback activities as part of our recently announced $12 billion share repurchase program.“