Broadcom (NASDAQ: AVGO) reported non-GAAP EPS of $5.14 for the second quarter of 2020 on revenue of $5.74 billion. While the earnings came in line with the analysts’ estimates, revenue surpassed the consensus view. AVGO shares dropped about 2% immediately after the earnings announcement.
“Second quarter results were in-line with our expectations, and saw limited impact from the effects of COVID-19,” said CEO Hock Tan.
For the third quarter of 2020, Broadcom expects revenue to be $5.75 billion plus or minus $150 million and adjusted EBITDA of $3.22 billion plus or minus $75 million.