Semiconductor firm Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported greater second-quarter revenues and adjusted earnings. The outcomes additionally topped analysts’ expectations.
Earnings, excluding non-recurring gadgets, got here in at $10.96 per share within the April quarter, in comparison with final yr’s revenue of $10.32 per share. The underside line beat estimates. Unadjusted web earnings was $2.12 billion or $4.42 per share in Q2, vs. $3.48 billion or $8.15 per share within the second quarter of final yr.
Second-quarter revenues totaled $12.49 billion, in comparison with $8.73 billion within the corresponding quarter of 2023. Analysts had forecast a slower top-line progress for the newest quarter.
