$AVGO
Broadcom beat targets in fiscal Q1 and guided above expectations on AI strength.
AVGO late Wednesday beat Wall Street targets for its fiscal first quarter and shared a revenue outlook for the current period that is clearly above expectations.
The chip designer and infrastructure software provider reported adjusted EPS of $2.05 on sales of $19.31B for the quarter ended Feb. 1. In a FactSet survey, analysts expected EPS of $2.03 and sales of $19.26B for fiscal Q1. Year over year, Broadcom’s profit rose 28% and sales increased 29%.
For the current quarter ending May 3, Broadcom forecast rev