Broadcom Q3 Earnings Beat Estimates, Shares Fall on Weak Q4 Guidance
AVGOBroadcom(AVGO) ZACKS·2024-09-07 00:01

Broadcom (AVGO) reported third-quarter fiscal 2024 non-GAAP earnings of 1.24pershare,beatingtheZacksConsensusEstimateby3.331.24 per share, beating the Zacks Consensus Estimate by 3.33% and increasing 18.1% year over year.Net revenues surged 47.3% year over year to 13.07 billion, surpassing the Zacks Consensus Estimate by 1.31%. The top-line growth was driven by strong demand for AI semiconductor solutions and VMware.However, AVGO shares were down more than 7% in pre-market trading following a disappointing fourth-quarter fiscal 2024 guidance. The stock ha ...