SINGAPUR (dpa-AFX) - Broadcom Limited (AVGO) reported a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $3.77 billion, or $8.80 per share. This compares with $2.47 billion, or $5.59 per share, in last year's first quarter.
Excluding items, Broadcom Limited reported adjusted earnings of $4.48 billion or $10.33 per share for the period.
Analysts on average had expected the company to earn $10.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 15.7% to $8.92 billion from $7.71 billion last year.
Broadcom Limited earnings at a glance (GAAP) :
-Earnings (Q1): $3.77 Bln. vs. $2.47 Bln. last year. -EPS (Q1): $8.80 vs. $5.59 last year. -Analyst Estimate: $10.1 -Revenue (Q1): $8.92 Bln vs. $7.71 Bln last year.
-Guidance: Next quarter revenue guidance: $8.7 Bln
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