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
Stock Watch: AutoZone (AZO) stays on the fast track despite cost pressures
AutoZone, Inc. (NYSE: AZO) is a much sought-after automotive parts retailer among do-it-yourself customers, especially after the virus-related movement restrictions forced people to stay indoors. The company’s stock has remained
Stock Watch: Intuitive Surgical (ISRG) remains a good bet despite slowdown
Intuitive Surgical, Inc. (NASDAQ: ISRG) is a market leader in the manufacturing and distribution of robotics-assisted surgical systems. The company’s products, designed for minimally invasive surgery, help healthcare professionals conduct procedures
WBA Stock: Why you should add Walgreens Boots to your watchlist
Drugstore chain Walgreens Boots Alliance, Inc. (NASDAQ: WBA) witnessed a spike in customer traffic in the last couple of years due to the vaccination drive and the high demand for