Broadcom boosts revenue guidance

NEW YORK Wed Dec 5, 2012 4:26pm EST

NEW YORK Dec 5 (Reuters) - Broadcom Corp said on Wednesday it expects its fourth quarter revenue to be at the high end of its target range due to better than expected revenue in its mobile business, sending its shares up 1.6 percent in late trade.

Broadcom had said in October that it now expects revenue of $2 billion to $2.1 billion, compared with its previous forecast range of $1.95 billion to $2.1 billion.

The chipmaker said it expects its product gross margin to be up slightly from the third quarter.