Categories AlphaGraphs, Earnings, Technology
AVGO Earnings: Broadcom Q2 earnings, revenue top expectations; guides Q3
Broadcom, Inc. (NASDAQ: AVGO) has reported stronger-than-expected earnings and revenues for the second quarter of 2022. The chipmaker’s stock traded sharply higher Friday morning.
Net profit was $9.07 per share in the second quarter, on an adjusted basis, up from last year’s earnings of $6.62 per share. Unadjusted net income climbed to $2.59 billion or $5.93 per share from $1.49 billion or $3.30 per share in the second quarter of 2021. Analysts had predicted a smaller number for the most recent quarter.
Driving the bottom-line growth, second-quarter revenues increased 23% annually to $8.10 billion and exceeded the Street view.
Check this space to read management/analysts’ comments on Broadcom’s Q2 earnings
“We generated $4.2 billion in free cash flow and are expecting free cash flow to remain strong in the third quarter. Consistent with our commitment to return excess cash to shareholders, we returned $4.5 billion to shareholders in the quarter including $1.7 billion of cash dividends and $2.8 billion of share repurchases,” said Broadcom’s CFO Kirsten Spears.
Prior Performance
Most Popular
After mixed Q2, what awaits Apple (AAPL) in the second half?
Apple’s (NASDAQ: AAPL) stock rallied this week after the gadget giant reported stronger-than-expected Q2 results and announced the largest-ever share buyback program. The company is investing heavily in the business,
What to expect when Tyson Foods (TSN) reports Q2 2024 earnings results
Shares of Tyson Foods, Inc. (NYSE: TSN) stayed green on Friday. The stock has gained 8% over the past three months. The branded foods company is slated to report its
EXPE Earnings: Expedia reports adj. profit for Q1; revenue rises 8%
Expedia Group (NASDAQ: EXPE) has reported an increase in revenues for the first quarter of 2024. The travel company turned to net profit in Q1, on an adjusted basis, from