Categories AlphaGraphs, Earnings, Technology

Broadcom (AVGO) stock gains after Q3 results top expectations

Broadcom, Inc. (NASDAQ: AVGO) reported stronger-than-expected earnings and revenues for the third quarter of 2020. The company’s shares made strong gains on Thursday evening soon after the announcement.

Broadcom Q3 2020 Earnings Infographic

The tech firm reported adjusted earnings of $5.40 per share for the third quarter of 2020, up from $5.16 per share recorded a year earlier. Reported profit was $688 million or $1.45 per share, compared to $715 million or $1.71 per share in the third quarter of 2019. Analysts had predicted a lower number for the most recent quarter.

Net revenues moved up 6% annually to $5.82 billion from $5.51 billion in the year-ago quarter and exceeded the Street view.


Looking forward to listening to management/analysts’ comments on Q3 results? Stay tuned here for Broadcom’s Q3 2020 earnings call transcript 


Broadcom’s shares gained during Thursday’s extended trading session, after closing the regular session lower.

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