Broadcom delivers upbeat guidance as AI-related revenue soars
Trending Articles- Gold drifts higher to near $4,750 ahead of US CPI inflation release
- Gold slumps below $4,700 on Trump rejection of Iran peace proposal
- WTI falls to near $93.50 after Israel, Iran signal an end to hostilities
- When Will the Gold Dilemma Be Resolved? Breakdown of US-Iran Negotiations Puts Gold Prices Under Pressure Again, Can It Return to $5,000?
- Ignoring Strategy Reduction Warning, Bitcoin Nears $82,000, Hitting Highest Price Since February
- Silver Price Analysis: Climbs above $80, as bulls eye weekly high
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.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
