Broadcom Inc. Exceeds Q1 Revenue and Profit Forecasts

Thursday, 7 March 2024, 21:20

Broadcom, Inc. (NASDAQ: AVGO) impressively reported a surge in Q1 revenues and adjusted earnings, surpassing market projections. Earnings rose to $10.99 per share from $10.33 per share last year, while net income hit $1.33 billion or $2.84 per share. Q1 revenues notably climbed to $11.96 billion. Looking ahead, Broadcom projects fiscal 2024 revenues of approximately $50 billion.
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Broadcom Inc. Exceeds Q1 Revenue and Profit Forecasts

Broadcom AVGO Exceeds Q1 Projections

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) reported substantial growth in first-quarter revenues and adjusted earnings, surpassing market estimates. The bottom line rose to $10.99 per share from $10.33 per share last year, with net income reaching $1.33 billion or $2.84 per share. This compares to last year's $8.80 per share in Q1.

First-quarter revenues notably surged to $11.96 billion, a significant increase from $8.92 billion in the prior year. Despite analyst projections for slower growth, Broadcom outperformed expectations. The company anticipates fiscal 2024 revenues to reach around $50 billion.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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