Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported higher second-quarter revenues and adjusted earnings. The results also topped analysts’ expectations.
Earnings, excluding non-recurring items, came in at $10.96 per share in the April quarter, compared to last year’s profit of $10.32 per share. The bottom line beat estimates. Unadjusted net income was $2.12 billion or $4.42 per share in Q2, vs. $3.48 billion or $8.15 per share in the second quarter of last year.
Second-quarter revenues totaled $12.49 billion, compared to $8.73 billion in the corresponding quarter of 2023. Analysts had forecast a slower top-line growth for the latest quarter.