Updated from 4:42 p.m. ET to reflect latest share prices, added information about Seagate, JDA Software, and Keytronic.
NEW YORK (TheStreet) -- Shares of Broadcom (BRCM) rose in late trades on Tuesday after the chip maker beat Wall Street expectations for its fiscal fourth quarter and gave a solid outlook for the current period.
Irvine, Calif.-based Broadcom reported a non-GAAP profit of $395 million, or 68 cents a share, on revenue of $1.82 billion for the quarter, ahead of the average estimate of analysts polled by Thomson Reuters for a profit of 65 cents a share in the December-ended period on revenue of $1.80 billion.
For its fiscal first quarter ending in March, the company forecast revenue of $1.7 billion to $1.8 billion, and flat product gross margins with its fourth-quarter performance on both a GAAP and non-GAAP basis. Wall Street's current consensus view is for revenue of $1.73 billion in the current quarter.
Amazon.comAmazon.com (AMZN) was the big loser in the extended session as the online mega-retailer fell short on the top line in the fourth quarter and said it could report an operating loss in the first quarter. The Seattle-based company, which said sales of its Kindle devices nearly tripled year-over-year during the holiday period, reported fourth-quarter earnings of $177 million, or 38 cents a share, for the December-ended period on sales of $17.43 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 17 cents a share in the quarter on sales of $18.25 billion. "We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the U.S. and Europe," said Jeff Bezos, the company's founder and CEO, in a statement. "Our millions of third-party sellers had a tremendous holiday season with 65% unit growth and now represent 36% of total units sold."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV