Categories Earnings, Technology

Broadcom reports stellar results post Qualcomm deal blockade

Broadcom (AVGO) reported its first quarter results just days after the US government blocked the Qualcomm (QCOM) deal citing security concerns. As a result, the chip maker has pulled back its offer to acquire its rival. Sales rose 29% to $5.3 billion boosted primarily by Wireless segment. Wireless continued its stellar growth from last year recording $2.2 billion in sales, which spiked 88% compared to last year. On the flip side, Wired segment slipped 10% to $1.8 billion.

Broadcom first quarter results

On the earnings front, the company reported $6.2 billion or $14.62 per share. This includes $5.79 billion of tax benefits due to the recent tax reforms. On an adjusted basis, earnings came in at $5.12 per share, which rose 41% compared to prior year period.

Broadcom’s board has sanctioned $1.75 as interim cash dividend per ordinary share, payable on March 29, 2018. Record date for payment is March 22, 2018.

For the second quarter, GAAP revenue is expected to be $4.99 billion (+/- $75 million) and operating expense to come in at $1.38 billion.

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Tags

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