Earnings Preview: Broadcom approaches Q1 2019 results while industry slumps

Chipmaking giant Broadcom Inc. (AVGO) is touted to post its first-quarter 2019 earnings on March 14.

According to Zacks Research, the Street looks at $5.22 per share in earnings in revenue of $5.74 billion.

In the previously reported fourth quarter, Broadcom results beat estimates sending the stock up. With all major business segments delivering for the chip giant, adjusted earnings per share soared more than 27% year-over-year, while revenue rose 12%.

Broadcom’s Networking, Enterprise Storage, Wireless and Industrial Products segments witnessed robust demand, driving the top-line higher.

Back then, CEO Hock Tan said, “Looking forward to fiscal year 2019, we expect another year of double digit revenue growth. Sustained demand within our semiconductor segment will be augmented by the newly acquired mainframe and enterprise software businesses to our infrastructure software segment.”

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