Shares of Broadcom Limited (AVGO) are rising in early trading after the semiconductor device supplier narrowed the range for its revenue outlook for the first quarter and gave higher than expected revenue guidance for the second quarter.

UPDATE OUTLOOK: Earlier this morning, Broadcom said it expects Q1 non-GAAP net revenue of $5.3B-$5.35B, compared to its prior guidance for revenue of $5.3B plus or minus $75M. In addition, the company expects non-GAAP EPS of approximately $5.10, which topped analysts’ consensus estimate of $4.95. For the second quarter, Broadcom expects non-GAAP net revenue of $5.B, plus or minus $75M. Analysts had been forecasting Q2 revenue of $4.93B. “Our first quarter results are tracking towards the higher end of our expectations as we continue to execute on our business model. Looking ahead to our second fiscal quarter, strong data center demand for our wired and enterprise storage products and a seasonal pick up in broadband is expected to offset a greater than seasonal decline in wireless. As a result, we currently forecast on a normalized 13-week quarter basis, that second quarter revenue will be roughly flat to the previous quarter,” said Hock Tan, President and CEO of Broadcom Limited.

WHAT’S NOTABLE: Broadcom is considering all options with regards to its proposal to acquire Qualcomm (QCOM), including a “hell or high water” provision, which would commit it to undertaking any obligations necessary to obtain antitrust approval, CNBC’s David Faber reported on January 25, citing sources close to the situation. On November 6, 2017, Broadcom proposed to acquire all of the outstanding shares of Qualcomm for per share consideration of $70.00 in cash and stock, consisting of $60.00 in cash and $10.00 in Broadcom shares.

PRICE ACTION: In early trading, Broadcom shares are up $9.82, or 4%, to $250.80, while Qualcomm is up 1.4% at $67.90.