Broadcom (AVGO) reported its first quarter results just days after the US government blocked the Qualcomm (QCOM) deal citing security concerns. As a result, the chip maker has pulled back its offer to acquire its rival. Sales rose 29% to $5.3 billion boosted primarily by Wireless segment. Wireless continued its stellar growth from last year recording $2.2 billion in sales, which spiked 88% compared to last year. On the flip side, Wired segment slipped 10% to $1.8 billion.
On the earnings front, the company reported $6.2 billion or $14.62 per share. This includes $5.79 billion of tax benefits due to the recent tax reforms. On an adjusted basis, earnings came in at $5.12 per share, which rose 41% compared to prior year period.
Broadcom’s board has sanctioned $1.75 as interim cash dividend per ordinary share, payable on March 29, 2018. Record date for payment is March 22, 2018.
For the second quarter, GAAP revenue is expected to be $4.99 billion (+/- $75 million) and operating expense to come in at $1.38 billion.
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and