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Broadcom delivers upbeat guidance as Q3 results top estimates amid AI-led demand

Investing.com -- Broadcom reported Thursday better-than-expected revenue guidance for current quarter and third-quarter results that beat analysts' forecasts as the chipmaker expects AI-related spending on infrastructure software and semiconductors to boost demand. 

Broadcom Inc (NASDAQ:AVGO) shares fell 3.3% in after-hours trading following the report. The stock had ended regular session, notching a 52-week high. 

Broadcom reported earnings per share of $10.54 on revenue of $8.88 billion. Analysts polled by Investing.com anticipated EPS of $10.43 on revenue of $8.85 billion.

Revenue in quarter was supported by "demand for next generation networking technologies as hyperscale customers scale out and network their AI clusters within data centers," the company said. 

Semiconductor solutions, its core business, rose 78% to $6.94B, while infrastructure software rose 22% to $1.94B.

Looking ahead to fourth quarter, revenue was expected to come in at $9.27B, up 4% from the prior year period, and in-line with Wall Street's estimates for $9.27B.

 

 

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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.