Posted 3/7/2024, 9:42:00 PM
Broadcom Beats Q1 Expectations with Strong Chip and Software Sales, VMware Deal on Track
- Broadcom tops Q1 earnings and revenue views, lifted by strong sales of AI chips and data center gear
- Earned adjusted $10.99 per share on sales of $11.96 billion vs expectations of $10.40 EPS on $11.8 billion revenue
- Semiconductor sales up 4% to $7.39 billion; Infrastructure software jumps 153% to $4.57 billion
- Reiterates full-year revenue guidance of $50 billion, up 40% including contribution from VMware
- Broadcom stock dips 1% after hours after rising 4% during regular session; shares hit record high of $1,438 on March 4