Broadcom’s earnings for the quarter surpassed analyst’ expectations.
Semiconductor company’s adjusted earnings, which exclude stock-based compensation and other items, came in at $7.81 a share, above the $7.74 a share expected by analysts polled by FactSet. It was also higher than the year-ago quarter’s $6.35 a share.
Revenue rose to $7.41 billion (from $6.47 billion in the year-ago quarter), vs. analysts’ prediction of $7.36 billion.
The company’s chip sales rose +76% year-over-year to $5.63 billion, vs. analysts’ estimate of $5.6 billion. Infrastructure software sales climbed +24% to $1.77 billion vs. analysts’ expected $1.73 billion.
For the fiscal first quarter, Broadcom projects revenue of about $7.6 billion vs. analysts’ forecast of $7.24 billion.