Broadcom delivers upbeat guidance as AI-related revenue soars
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Investing.com - Broadcom on Thursday delivered upbeat revenue guidance for the current quarter amid surging AI-revenue, though the chipmaker reported mixed Q4 results as revenue fell just short of estimates.
Broadcom Inc (NASDAQ:AVGO) shares gained 4% in after-hours trade following the report.
For three months ended Nov. 3, the chipmaker announced earnings per share of $1.42 on revenue of $14.05 billion. Analysts polled by Investing.com anticipated EPS of $1.39 on revenue of $14.07 billion.
Semiconductor solutions, its core business, jumped 12% to $8.23B, while infrastructure software rose 196% to $5.82B.
For 2024, semiconductor revenue was a "record $30.1 billion driven by AI revenue of $12.2 billion," the company said. "AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio," it added.
Looking ahead, the chipmaker said it expects Q1 revenue of $14.6B, above consensus of $14.55B.
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