Avago Technologies (Nasdaq: AVGO ) reported earnings on Aug. 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended July 29 (Q3), Avago Technologies beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share grew.
Gross margins dropped, operating margins expanded, net margins were steady.
Avago Technologies chalked up revenue of $606.0 million. The 13 analysts polled by S&P Capital IQ expected sales of $599.3 million on the same basis. GAAP reported sales were 0.5% higher than the prior-year quarter's $603.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.72. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.66 per share. GAAP EPS of $0.58 for Q3 were 1.8% higher than the prior-year quarter's $0.57 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 51.0%, 60 basis points worse than the prior-year quarter. Operating margin was 24.9%, 50 basis points better than the prior-year quarter. Net margin was 23.9%, about the same as the prior-year quarter.
Next quarter's average estimate for revenue is $626.3 million. On the bottom line, the average EPS estimate is $0.72.
Next year's average estimate for revenue is $2.37 billion. The average EPS estimate is $2.66.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 84 members out of 89 rating the stock outperform, and five members rating it underperform. Among 21 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give Avago Technologies a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Avago Technologies is outperform, with an average price target of $40.67.
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