Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) reported higher revenues and adjusted earnings for the third quarter of 2024 amid continued strong demand. The Q3 numbers also topped expectations.
Earnings, excluding non-recurring items, came in at $1.24 per share in the July quarter, compared to $1.05 per share in the comparable period a year earlier. On an unadjusted basis, it was a net loss of $1.88 billion or $0.40 per share in Q3, compared to a profit of $3.3 billion or $0.77 per share in the prior-year quarter.
Third-quarter revenues totaled $13.07 billion, higher than the $8.88/billion revenue reported in the third quarter of 2023. For the fourth quarter of 2024, the management expects revenues of around $14.0 billion.