Categories AlphaGraphs, Earnings, Technology

Broadcom beats in Q4, announces management rejig

Broadcom (NASDAQ: AVGO) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The chipmaker reported Q4 revenue of $6.47 billion, up 12% year-over-year, and higher than the Wall Street projection. Meanwhile, net income of $6.35 per share was much better than what analysts had anticipated.

AVGO shares fell 2% immediately following the announcement. The stock has gained 27% since the beginning of this year.

Broadcom Q4 2020 earnings

Looking forward to listening to management / analyst comments on the results? Stay tuned here for Broadcom Q4 2020 earnings call transcript

The semiconductor firm also announced a slew of management changes.

The company’s CFO Tom Krause was appointed as the President of the new Infrastructure Software Group, overseeing the company’s six software divisions. Meanwhile, Charlie Kawwas, who is currently the Chief Sales Officer, will now take up the role of the COO. VP Kirsten Spears was named the new CFO.

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