SINGAPUR (dpa-AFX) - Broadcom Limited (AVGO) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $2.40 billion, or $5.59 per share. This compares with $1.30 billion, or $3.05 per share, in last year's first quarter.
Excluding items, Broadcom Limited reported adjusted earnings of $3.74 billion or $8.39 per share for the period.
Analysts on average had expected the company to earn $8.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 15.8% to $7.71 billion from $6.66 billion last year.
Broadcom Limited earnings at a glance (GAAP) :
-Earnings (Q1): $2.40 Bln. vs. $1.30 Bln. last year. -EPS (Q1): $5.59 vs. $3.05 last year. -Analyst Estimate: $8.08 -Revenue (Q1): $7.71 Bln vs. $6.66 Bln last year.
-Guidance: Next quarter revenue guidance: $7.9 Bln
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
