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
What to look for when Halliburton Company (HAL) reports Q4 2024 results?
Halliburton Company (NYSE: HAL) is expected to report fourth-quarter results on Wednesday, January 22, at 6:45 am ET. The oilfield service provider is currently recovering from a rough patch, marked
McCormick (MKC) is set to report Q4 2024 earnings results next week, a few points to note
Shares of McCormick & Company, Incorporated (NYSE: MKC) rose over 1% on Thursday. The stock has gained 12% in the past 12 months. The company is scheduled to report its fourth quarter
PNC Financial Q4 2024 profit more than doubles; revenue up 4%
The PNC Financial Services Group, Inc. (NYSE: PNC) reported a sharp increase in profit for the fourth quarter of 2024. Revenues grew by 4%. Net income attributable to common shareholders