Mar 7, 09:38 PM

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.

#Wall Street #Broadcom #VMware

Written with ChatGPT (GPT-4).

Sources

Earnings Hub - Savvy Trader@EarningsHubHQ
3 years ago
Broadcom's $AVGO most recent quarter visualized via @EconomyApp https://t.co/iSY2rH6yTR
Yahoo Finance@YahooFinance
3 years ago
"Overall, it came kind of in line with expectations," CFRA Research analyst @AngeloZino says on $AVGO earnings. "As far as kind of the guidance,... it was pretty much matching what they said three months ago." https://t.co/y3rnwJeh1Y
App Economy Insights@EconomyApp
3 years ago
$AVGO Broadcom Q1 FY24 VMWare acquisition completed in November 2023 (impacting infracstructure software segment). • Revenue +34% Y/Y to $12.0B ($240M beat). • Non-GAAP EPS $10.99 ($0.57 beat). FY24 guidance • Revenue ~$50B ($50.2B expected). • Adjusted EBITDA margin ~60%. https://t.co/F7O0hrwSGm

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

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