Broadcom Q1: EPS $10.99, Revenue $11.96B; Raises Dividend, Stock Falls

Broadcom Inc. reported its first-quarter earnings, surpassing Wall Street's expectations with an adjusted EPS of $10.99 against the estimated $10.42 and revenue of $11.96B, exceeding the forecast of $11.7B. The company's semiconductor solutions revenue stood at $7.39B, below the expected $7.7B. Broadcom's earnings announcement came amid heightened volatility, with options pricing indicating an expected move of about 8.5% in either direction, up from 7.5% the previous day. The company has also raised its dividend by 14% to $5.25, despite the stock falling 3.8% after hours. Looking ahead, Broadcom forecasts fiscal year revenue to be approximately $50.0B, including contributions from its recent VMware acquisition completed in November 2023, marking a 40% increase from the previous year.