Chipmaker Broadcom, Inc. (NASDAQ: AVGO) Thursday reported better-than-expected earnings and revenues for the fourth quarter of 2022.
Net profit was $10.45 per share in the final three months of the fiscal year, on an adjusted basis, up from last year’s earnings of $7.81 per share. Unadjusted net income climbed to $3.36 billion or $7.83 per share from $1.99 billion or $4.45 per share in the fourth quarter of 2021. Analysts had predicted a smaller number for the latest quarter.
Driving the bottom-line growth, fourth-quarter revenues increased 21% annually to $8.93 billion and slightly exceeded the Street view.
Check this space to read management/analysts’ comments on Broadcom’s Q4 earnings
“Consistent with our commitment to return cash to shareholders, we will resume our authorized share repurchase programs for the remaining $13 billion, and we are increasing our quarterly common stock dividend by 12 percent to $4.60 per share for fiscal year 2023,” said Broadcom’s CFO Kirsten Spears.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Everything you need to know about Broadcom’s Q2 2023 earnings report
Broadcom, Inc. (NASDAQ: AVGO) on Thursday said its second-quarter 2023 earnings and revenues increased year-over-year. The chipmaker also provided guidance for the third quarter. Earnings, excluding non-recurring items, came in
HP’s (HPQ) near-term prospects look bleak as PC slump continues
Weak consumer spending and economic uncertainties are the new challenges facing the PC market which is struggling to recover from a long-drawn slowdown. HP, Inc. (NYSE: HPQ) reported a sharp
Hormel Foods (HRL): Key takeaways from the Q2 2023 earnings report
Shares of Hormel Foods Corporation (NYSE: HRL) were up over 4% on Thursday, following the company’s announcement of its second quarter 2023 earnings results. Sales fell short of estimates while
