Broadcom, Inc. (NASDAQ: AVGO) reported stronger-than-expected earnings and revenues for the third quarter of 2022. The chipmaker’s stock gained Thursday evening following the announcement.
Net profit was $9.73 per share in the third quarter, on an adjusted basis, up from last year’s earnings of $6.96 per share. Unadjusted net income climbed to $3.07 billion or $7.15 per share from $1.88 billion or $4.20 per share in the third quarter of 2021. Analysts had predicted a smaller number for the latest quarter.
Driving the bottom-line growth, third-quarter revenues increased 25% annually to $8.46 billion and exceeded the Street view.
Check this space to read management/analysts’ comments on Broadcom’s Q3 earnings
“We remain committed to return excess cash to shareholders and in the third quarter, we returned $3.2 billion to shareholders including $1.7 billion of cash dividends and $1.5 billion of share repurchases,” said Broadcom’s CFO Kirsten Spears.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was
