Broadcom Raises Q4 Guidance, Announces Stock Buyback

Broadcom raised its financial guidance for the fourth quarter of 2014, increased its dividend and announced a stock buyback plan for 2015.

The company now expects its Q4 2014 revenue to approximately $2.075 — $2.150 billion, which is in the upper half of its previously guided range. Broadcom's quarterly dividend will increase by $0.02 per share, to $0.14 per share or $0.56 on an annual basis, a 17% year-over-year increase, beginning with the dividend that will be declared in the first quarter of 2015. In addition, the company announced a $1 billion share buyback authorization in 2015.

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