Avago Technologies Q3 Adj. Profit Beats Estimate - Quick Facts

(RTTNews) - Avago Technologies Ltd. (AVGO) reported third-quarter net loss of $164 million or $0.65 per share, compared to net income of $142 million or $0.56 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest third quarter was $347 million, or $1.26 per share, compared to $188 million, or $0.74 per share in the prior year quarter. On average, seventeen analysts polled by Thomson Reuters expected the company to earn $1.06 per share. Analysts' estimates typically exclude special items.

Net revenue for the latest third quarter rose 97% to $1.27 billion from $644 million a year ago, while 19 analysts expected revenue of $1.35 billion for the third quarter.

Looking forward, the company said it expects fourth quarter revenue to be up 18% to 22%.