Broadcom's revenue last quarter and guidance for this quarter both exceeded expectations | Earnings Report Insights
Broadcom's adjusted net revenue for the first fiscal quarter was $19.31 billion, exceeding analysts' expectations of $19.26 billion, with an adjusted earnings per share of $2.05, also above expectations. The company plans to implement a $10 billion stock repurchase program and expects second fiscal quarter revenue of approximately $22 billion, surpassing analysts' expectations of $20.53 billion. After the earnings report was released, Broadcom's stock price initially rose and then fell
Broadcom's adjusted net revenue for the first fiscal quarter was $19.31 billion, while analysts expected $19.26 billion.
The adjusted earnings per share (EPS) for the first fiscal quarter was $2.05, with analysts expecting $2.03.
Revenue from semiconductor solutions in the first fiscal quarter was $12.52 billion, while analysts expected $12.31 billion.
The company plans to implement a new stock repurchase program, with a maximum amount of $10 billion, which has been approved by the board of directors.
Revenue for the second fiscal quarter is expected to be approximately $22 billion, while analysts expect $20.53 billion.
The ratio of adjusted EBITDA to revenue estimates for the second fiscal quarter is expected to be around 68%.
After the earnings report was released, Broadcom's stock price, which rose over 1% on Wednesday, initially increased slightly in after-hours trading before turning negative.
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