SunPower Corporation (NASDAQ:SPWR) and Broadcom Corporation (NASDAQ:BRCM) Glide Past Earnings Estimates

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SunPower Corporation(NASDAQ:SPWR) reported adjusted Q1 EPS of $0.49 compared to $0.22 a year earlier and well ahead of the consensus analyst estimate in the Capital IQ survey for $0.32, if comparable. Revenue of $683.7 million is up from $574.5 million a year earlier. The Street expected $668 million.

For Q2, the company guides for consolidated non-GAAP revenue of $575 million to $625 million, gross margin of 18 percent to 20 percent, net income per diluted share of $0.15 to $0.35 and MW recognized in the range of 275-MW to 300-MW. The Cap IQ survey of analysts calls for a consensus $0.30 per share on $635 million in revs.

For fiscal-year 2014, the company looks for non-GAAP revenue of $2.5 billion to $2.65 billion, gross margin of 19 percent to 21 percent, net income per diluted share of $1.10 to $1.40, capital expenditures of $150 million to $170 million and GW recognized in the range of 1.2-GW to 1.3-GW. The Street is at $1.20 per share on $2.6 billion in revenues.

Broadcom Corporation(NASDAQ:BRCM) is lower after-hours as the company reports Q1 earnings $0.05 above consensus by analysts polled by Capital IQ, but lower year-over-year.

Q1 non-GAAP EPS of $0.51 per share, widely topping consensus for $0.46, but lower than prior-year EPS of $0.65. Revenue of $1.98 billion met consensus, but decreased 1% compared to revenues of $2.0 billion a year ago. Shares of BRCM are down 0.5% at $31 after-hours.

 

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