forecast@ (Adds share movement, CEO quote, details, background on chip slowdown; compares with estimates)
Sept 12 (Reuters) - Broadcom Inc narrowly missed Wall Street estimates for quarterly revenue on Thursday and maintained its full-year forecast, as it faces a slowdown in chip demand and macroeconomic uncertainty due to the ongoing U.S.-China trade war.
"Looking at the semiconductor solutions segment, we believe demand has bottomed out but will continue to remain at these levels due to the current uncertain environment," Broadcom Chief Executive Officer Hock Tan said.
The chip industry is in a slowdown with research firm Gartner forecasting a 9.6% drop in global semiconductor revenue to $429 billion in 2019. U.S.-China trade tensions, including tariffs on some products and the restrictions on sales to Huawei, are pressuring chipmakers.
Shares of Broadcom fell 1.5% in extended trading.
Revenue from the company's semiconductor solutions segment fell about 5% to $4.35 billion from a year ago.
Total net revenue rose to $5.52 billion in the third quarter ended Aug. 4, from $5.06 billion a year earlier but missed analysts average estimate of $5.54 billion, according to IBES data from Refinitiv.
The chipmaker also maintained its full-year 2019 revenue forecast of $22.50 billion, which also came in below estimates of $22.6 billion.
Net income attributable to common stock fell to $715 million, or $1.71 per share, in the quarter, from $1.2 billion, or $2.71 per share, a year earlier.
However, excluding items, Broadcom earned a profit of $5.16 per share, beating estimates of a profit of $5.13 per share. (Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)