Broadcom delivers upbeat guidance as AI-related revenue soars
Trending Articles- Gold jumps over 2% toward $5,400 after US, Israel attack Iran
- Senate to vote on Trump’s pro-Bitcoin Fed pick as BTC hits four-week high
- Strait of Hormuz Blockade: JPM Warns Crude Production May Halt After 25 Days. How Will US-Iran Conflict Trajectory Affect Global Oil Prices?
- Gold slumps below $5,100 as US Dollar gains
- WTI Price Forecast: Retreats from seven-month top, still well bid near $71.00 mark
- WTI climbs back closer to $72.00 as closure of Strait of Hormuz fuels supply concerns
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.
