Categories AlphaGraphs, Earnings, Technology
Broadcom (AVGO) reports better-than-expected Q1 earnings, revenue
Broadcom, Inc. (NASDAQ: AVGO) Thursday reported stronger-than-expected earnings and revenues for the first quarter of 2022. The chipmaker’s stock made strong gains soon after the announcement in after-hours trading.
Earnings were $8.39 per share for the first quarter, up from last year’s profit of $6.61 per share. Unadjusted net profit was $2.47 billion or $5.59 per share, compared to $1.38 billion or $3.05 per share in the first quarter of 2021. Analysts had predicted a smaller number for the most recent quarter.
Driving the bottom-line growth, first-quarter revenues increased 16% annually to $7.71 billion and exceeded the Street view.
“Broadcom’s record first-quarter results were driven by strong enterprise demand and continued investments in next-generation technology by hyper-scale and service providers. Our second-quarter outlook projects year-over-year growth to accelerate,” said Broadcom’s CEO Hock Tan.
Read management/analysts’ comments on Broadcom’s Q1 results
Broadcom’s stock has gained about 16% in the past six months, often outperforming the market. The stock closed Thursday’s regular session lower but gained in the extended session soon after the announcement.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Trxade (MEDS) is increasing the breadth of product offerings: CEO Suren Ajjarapu
Trxade Health Inc. (NASDAQ: MEDS) is an online pharmaceutical marketplace that provides a platform for independent pharmacies to operate more effectively. The company’s digital platform helps optimize drug procurement and
AMAT Stock: Is now the right time to invest in Applied Materials?
It is estimated that the size of the global chip manufacturing equipment market would nearly double from the current levels to about $142 billion in the next eight years. Applied
Here’s a look at Take-Two Interactive Software’s (TTWO) expectations for the coming year
Shares of Take-Two Interactive Software (NASDAQ: TTWO) were down over 2% on Friday. The stock has dropped 32% year-to-date and 35% over the past 12 months. Earlier this week, the
