Back to top

Fresh Earnings Beats from AVGO, LULU

Read MoreHide Full Article

Just when you thought earnings season was over… shares of both lululemon (LULU - Free Report) and Broadcom (AVGO - Free Report) are up in late trading today following their respective Q3-18 and Q4-17 earnings reports. Even beneath their headline beats, both companies raised guidance and supplied investors with plenty of goodies heading into holiday season.

Broadcom, noteworthy lately for its move to buy out like-sized competitor Qualcomm (QCOM - Free Report) , outperformed analyst expectations on both top and bottom lines. Earnings of $4.59 per share outpaced the Zacks consensus of $4.52 on quarterly revenues of $4.85 billion, better than the $4.83 billion analysts were looking for. Guidance for fiscal Q1 2018 on the top line was raised to around $5.3 billion, well beyond the Q4 actual and the Q1 estimate of around $4.8 billion.

A full $2.2 billion in revenues came from the company’s Wired business, with $1.8 billion coming from Wireless. Further, Broadcom has considerably upped its interim quarterly dividend by 72%. Shares are up more than a point and a half in after-hours trading, but have been trading down since Thanksgiving.

lululemon, for its part, brought forth a 4-cent beat on its bottom line to 56 cents per share. Quarterly revenues easily surpassed the $610 million expected to $619 million in the quarter. This marks the third-straight positive earnings surprise, with a trailing 4-quarter average positive surprise of 8.5%. Comps rose 7% in the quarter, but with limited brick-and-mortar options (388 stores overall) it’s clear much of this growth for lululemon has come on-line. The company also raised Q4 guidance. For more on LULU’s earnings report, click here.

Zacks’ Best Private Investment Ideas

While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.

Click here for Zacks' private trades >>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

QUALCOMM Incorporated (QCOM) - free report >>

Broadcom Limited (AVGO) - free report >>

lululemon athletica inc. (LULU) - free report >>

More from Zacks Analyst Blog

You May Like