Avago Technologies Q2 Adj. Profit Beats Estimate - Quick Facts

(RTTNews) - Avago Technologies Ltd. (AVGO) reported net income for the second quarter of $158 million or $0.61 per share, compared to $113 million or $0.45 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest second quarter was $223 million, or $0.85 per share, compared to $153 million, or $0.61 per share in the prior year quarter. On average, nineteen analysts polled by Thomson Reuters expected the company to earn $0.76 per share. Analysts' estimates typically exclude special items.

Net revenue for the latest second quarter rose 25% to $701 million from $562 million a year ago, while 21 analysts expected revenue of $678.54 million for the second quarter.

Looking forward, the company said it expects third quarter revenue in the range of $1.3 billion to $1.4 billion. Analysts currently expect third quarter revenue of $1.24 billion.