The stock was falling 2.19% to $294 a share in postmarket trading, after having risen 0.86% in regular hours.
Adjusted earnings per share for Broadcom's fiscal third quarter came in at $5.16, beating Wall Street estimates of $5.13, while GAAP EPS beat expectations handily, coming in at $1.71, versus forecasts of $1.21. Revenue was $5.515 billion, just missing analysts expectations of $5.516 billion. Revenue rose 9% over the same period last year.
"Our broad portfolio of mission critical semiconductor and infrastructure software solutions, utilized by the world's largest enterprises, continued to drive sustained revenues and robust cash flow despite a challenging market backdrop," said Hock Tan, President and CEO of Broadcom Inc. "Looking at the semiconductor solutions segment, we believe demand has bottomed out but will continue to remain at these levels due to the current uncertain environment."
Management guided for full fiscal year 2019 revenue of $22.5 billion, unchanged from its prior forecast. That figure was slightly below analyst estimates of $22.6 billion. The company expects its adjusted operating margin to be 52.5% for the year, also unchanged. The company maintained its capital expenditure guidance for the year of $500 million.
The stock is up 18.5% this year.