Chipmaker Broadcom, Inc. (NASDAQ: AVGO) Thursday reported higher adjusted earnings and revenues for the first quarter of 2023.
Net profit was $10.33 per share in the first three months of the fiscal year, on an adjusted basis, up from last year’s earnings of $8.39 per share. Unadjusted net income climbed to $3.77 billion or $8.80 per share from $2.47 billion or $5.59 per share in the first quarter of 2022.
Driving the bottom-line growth, first-quarter revenues increased 16% annually to $8.92 billion. The Company generated $4,036 million in cash from operations and spent $103 million on capital expenditures during the quarter.
Check this space to read management/analysts’ comments on Broadcom’s Q1 earnings
“Broadcom’s first quarter performance reflects continued strength in infrastructure demand across all our end markets. Looking ahead, we are confident our growth will be driven by sustained leadership in next-generation technologies across all of our core markets, and strong partnerships with our customers.,” said Broadcom’s CEO Hok Tan.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion