Broadcom beats on earnings and revenue

A sign is posted in front of a Broadcom office in San Jose, California, on Dec. 12, 2024. Broadcom reported second-quarter earnings on Thursday that beat Wall Street expectations, and the chipmaker provided robust guidance for the current period. Here's how the chipmaker did versus LSEG consensus estimates: Earnings per share: $1.58 adjusted versus $1.56 expected $1.58 adjusted versus $1.56 expected Revenue: $15 billion versus $14.99 billion expected Broadcom said it expects about $15.8 billion in third-quarter revenue, versus $15.70 billion expected by Wall Street analysts. Revenue in the latest quarter rose 20% on an annual basis. The company said net income increased to $4.97 billion, or $1.03 per share, from $2.12 billion, or 44 cents per share, in the year-ago period. The company instituted a 10-for-1 stock split a year ago. Broadcom shares are up 12% this year after more than doubling last year on investor optimism for the company's custom chips for artificial intelligence ... Read full article.