Categories Earnings, Technology

Broadcom’s (AVGO) Q4 results beat expectations

Broadcom (NASDAQ: AVGO) beat market expectations for revenue and earnings in the fourth quarter of 2019. Shares rose slightly in aftermarket hours on Thursday.

Total revenue of $5.77 billion was up 6.1% from the same period last year and ahead of estimates of $5.73 billion.  

Broadcom beat revenue and earnings estimates in Q4 2019

GAAP net income was $847 million, or $1.97 per share, compared to $1.11 billion, or $2.64 per share, in the prior-year period. Adjusted net income was $2.39 billion, or $5.39 per share. Analysts had forecast adjusted EPS of $5.36.

Hock Tan, President and CEO said, “Fiscal year 2019 concluded as expected. Our semiconductor solutions segment continued to work its way through a cyclical correction. This was more than offset by our infrastructure software segment, which delivered healthy results benefitting from the integration and performance of our CA business.”

For fiscal year 2020, the company expects revenue to be $25 billion plus or minus $500 million.

Broadcom completed the acquisition of the Symantec Enterprise Security business in November and the financial results do not include any contribution from the Symantec Enterprise Security business.

The company approved a quarterly cash dividend on its common stock of $3.25 per share, payable on December 31, 2019 to common stockholders of record on December 23, 2019.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top