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Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking [Yahoo! Finance]
Last broadcom inc. earnings: 3/12 04:15 pm
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US:NASDAQ Investor Relations: investors.broadcom.com
The company reported second-quarter revenue of $15 billion, up 20%, beating analyst estimates of $14.99 billion, driven by continued momentum in AI semiconductor solutions and VMware. The semiconductor company reported second-quarter adjusted earnings of $1.58 per share, beating analyst estimates of $1.56. The second-quarter AI revenue grew 46% to over $4.4 billion, driven by robust demand for AI networking. Also read: Broadcom Tomahawk 6 Flexes AI Muscle, Hyperscalers Are Buying In Broadcom expects third-quarter revenue of approximately $15.8 billion, versus estimates of $15.79 billion. JP Morgan analyst Harlan Sur maintained Broadcom with an Overweight and raised the price target from $250 to $325. Truist Securities analyst William Stein reiterated Broadcom with a Buy and raised the price target from $267 to $295. Rosenblatt analyst Kevin Cassidy maintained Broadcom with a Buy and raised the price target from $223 to $340. Cantor Fitzgerald analyst Matthew Prisco rei
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