Broadcom says withdrawing prior annual guidance, in light of uncertainties arising from effects of covid-19

Announces first quarter fiscal year 2020 financial results, quarterly dividend and updated guidance.sees q2 revenue about $5.7 billion plus or minus $150 million .q1 non-gaap earnings per share $5.25.q1 gaap earnings per share $0.74.q1 revenue $5.858 billion versus refinitiv ibes estimate of $6 billion.q1 earnings per share estimate $5.33 -- refinitiv ibes data.withdrawing prior annual guidance, in light of uncertainties arising from effects of covid-19.sees second quarter revenue guidance of $5.7 billion plus or minus $150 million.broadcom - did not see any material impact on businesses due to covid-19 in q1.q2 adjusted ebitda guidance of $3,135 million plus or minus $75 million.sees q2 adjusted ebitda of $3,135 million plus or minus $75 million, or 55% of revenue at the midpoint of guidance.quarterly common stock dividend of $3.25 per share.visibility in global markets is lacking and demand uncertainty is intensifying.believe it prudent to withdraw annual guidance until visibility returns to pre covid-19 levels.are well positioned to continue to support dividends to stockholders despite challenging market backdrop.
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