Broadcom misses quarterly revenue estimates, maintains full-year forecast

Broadcom Inc reported quarterly revenue that missed Wall Street expectations on Thursday, as the company faces a slowdown in chip demand and macroeconomic uncertainty due to the U.S.-China trade war.

Net revenue rose to $5.52 billion in the third quarter ended Aug. 4, from $5.06 billion a year earlier. Analysts had expected $5.54 billion, according to IBES data from Refinitiv.

The chipmaker maintained its forecast for full-year 2019 revenue of $22.50 billion, which also came in below analysts' estimates of $22.6 billion.