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Broadcom annual guidance falls short after Q4 results beat; hikes dividend

Investing.com - Broadcom reported Thursday better-than-expected fourth-quarter results, but the chipmaker's guidance for annual revenue missed Wall Street estimates.

Broadcom Inc (NASDAQ:AVGO) fell more than 2% in after-hours trade following the report.

Broadcom reported Q4 adjusted EPS of $11.06 on revenue of $9.30B. Analysts polled by Investing.com anticipated EPS of $10.96 on revenue of $9.28B.

The beat on the bottom line was "driven by investments in accelerators and network connectivity for AI by hyperscalers," the company said.

Semiconductor solutions, its core business, rose 3% to $7.33B, while infrastructure software added 7%% to $2.00 billion.

The company hiked up its quarterly dividend by 14% to $5.25.

Looking ahead, fiscal 2024 revenue guidance was $50B, missing expectations of $50.25B.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.