Categories AlphaGraphs, Earnings, Technology

Broadcom (AVGO) Earnings: Q3 results top expectations amid strong demand

Chipmaker Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings and revenues for the third quarter of 2021. Its shares made modest gains soon after the announcement.

Broadcom Q3 2021 earnings infographic

The company posted adjusted earnings of $6.96 per share for the July quarter, up from last year’s profit of $5.40 per share. The reported net income was $1.80 billion or $4.20 per share, compared to $614 million or $1.45 per share in the third quarter of 2020. Analysts had predicted a slightly smaller number for the most recent quarter.

Driving the profit growth, net revenues moved up 16% annually to $6.78 billion and slightly exceeded the Street view.

Read management/analysts’ comments on Broadcom’s Q3 results

Shares of the company gained in after-hours trading on Thursday, after closing the regular session lower.

Prior Performance

  • Broadcom Q4 2020 earnings


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