Broadcom Inc. Q3 Earnings and Revenues Surpass Estimates
Broadcom Inc. (NASDAQ: AVGO) came out with quarterly earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.20 per share. This compares to earnings of $1.05 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 3.33%. A quarter ago, it was expected that this chipmaker would post earnings of $1.08 per share when it actually produced earnings of $1.10, delivering a surprise of 1.85%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Broadcom Inc., which belongs to the Zacks Electronics – Semiconductors industry, posted revenues of $13.07 billion for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 1.31%. This compares to year-ago revenues of $8.88 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Broadcom Inc. Shares have added …
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