Broadcom Inc.: Fiscal 3Q Earnings Snapshot

September 12, 2019 GMT

SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal third-quarter earnings of $715 million.

On a per-share basis, the San Jose, California-based company said it had profit of $1.71. Earnings, adjusted for one-time gains and costs, came to $5.16 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.11 per share.

The chipmaker posted revenue of $5.52 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $5.5 billion.


Broadcom Inc. expects full-year revenue of $22.5 billion.

Broadcom Inc. shares have risen 18% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $300.58, a climb of 31% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVGO at https://www.zacks.com/ap/AVGO