Broadcom's revenue forecast disappoints on weakness in chip business

Broadcom Inc on Thursday forecast current-quarter revenue, the mid-point of which was slightly below Wall Street estimates as its chip business was weighed down by the impact of the coronavirus crisis on global supply chains.

The company forecast third-quarter revenue of about $5.75 billion, plus or minus $150 million. Analysts on average were expecting $5.79 billion, according to IBES data from Refinitiv.