Semiconductor firm Broadcom, Inc. (NASDAQ: AVGO) is all set to publish third-quarter 2023 results today at 4:15 pm ET. The tech firm is likely to repeat the impressive performance it delivered in the previous quarter.
Listen to Broadcom’s Q3 2023 earnings call live and read the real-time transcript
Analysts are looking for an adjusted net income of $10.42 per share, which is up 7% year-over-year. The positive earnings outlook reflects an estimated 4.7% annual growth in revenues to $8.86 billion. That broadly matches the revenue guidance issued by the management a few months ago.
In the second quarter, Broadcom’s adjusted earnings per share climbed 14% from the prior-year period to $10.32 even as revenues moved up 8% to $8.73 billion. All operating segments, including the core Semiconductor Solutions division, expanded during the quarter.