Categories AlphaGraphs, Earnings, Technology
Broadcom (AVGO) reports better-than-expected Q1 earnings, revenue
Broadcom, Inc. (NASDAQ: AVGO) Thursday reported stronger-than-expected earnings and revenues for the first quarter of 2022. The chipmaker’s stock made strong gains soon after the announcement in after-hours trading.
Earnings were $8.39 per share for the first quarter, up from last year’s profit of $6.61 per share. Unadjusted net profit was $2.47 billion or $5.59 per share, compared to $1.38 billion or $3.05 per share in the first quarter of 2021. Analysts had predicted a smaller number for the most recent quarter.
Driving the bottom-line growth, first-quarter revenues increased 16% annually to $7.71 billion and exceeded the Street view.
“Broadcom’s record first-quarter results were driven by strong enterprise demand and continued investments in next-generation technology by hyper-scale and service providers. Our second-quarter outlook projects year-over-year growth to accelerate,” said Broadcom’s CEO Hock Tan.
Read management/analysts’ comments on Broadcom’s Q1 results
Broadcom’s stock has gained about 16% in the past six months, often outperforming the market. The stock closed Thursday’s regular session lower but gained in the extended session soon after the announcement.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Tyson Foods (TSN) Q2 2024 Earnings: Key financials and quarterly highlights
Tyson Foods, Inc. (NYSE: TSN) reported second quarter 2024 earnings results today. Sales dipped slightly to $13.07 billion from $13.1 billion in the same period a year ago. Net income
After mixed Q2, what awaits Apple (AAPL) in the second half?
Apple’s (NASDAQ: AAPL) stock rallied this week after the gadget giant reported stronger-than-expected Q2 results and announced the largest-ever share buyback program. The company is investing heavily in the business,
What to expect when Tyson Foods (TSN) reports Q2 2024 earnings results
Shares of Tyson Foods, Inc. (NYSE: TSN) stayed green on Friday. The stock has gained 8% over the past three months. The branded foods company is slated to report its