Posted 3/6/2024, 4:34:53 PM
Broadcom Earnings Beat Estimates on AI and VMware Strength, Though Some Weakness Seen in Storage and Networking
- Broadcom expected to report Q1 EPS of $10.42 on revenues of $11.72B, beating estimates due to increasing AI sales and VMware synergies
- Forecasts continued growth in AI and VMware portfolio, but offset by weakness in storage, broadband, enterprise networking
- Citi optimistic about integration strategy and VMware opportunity, Susquehanna positive on AI networking/Ethernet prospects
- Sold End-User Computing Division to KKR for $4B; paused Carbon Black security business sale due to low interest
- Wall Street rating Buy on average; Seeking Alpha analysts also mostly consider AVGO a Buy