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Broadcom shares soar 9% as earnings top estimates on demand for custom AI chips

Broadcom's shares rose 9% after reporting earnings per share of $1.60, exceeding estimates by $0.10, which reassured investors about ongoing spending on artificial intelligence.
AI sales for Broadcom reached $4.1 billion, surpassing the consensus estimate of $3.73 billion, indicating strong demand for its semiconductor products.
Broadcom anticipates generating about $14.9 billion in revenue for the next quarter, which is above analyst expectations of $14.6 billion.
Broadcom reported revenue of $14.92 billion for its fiscal first quarter, exceeding analyst estimates of $14.6 billion in revenue.

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The Motley Fool

Broadcom Stock Pops as Earnings and Outlook Beat Expectations on Strong Demand for Custom Artificial Intelligence (AI) Chips @themotleyfool #stocks $AVGO

7 days ago·Alexandria, United States

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The Mercury news

Broadcom shares jump as AI growth fuels upbeat forecast

By Ian King | Bloomberg Broadcom Inc. shares jumped after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy. Sales will be about $14.9 billion in the three-month period ending May 4, Broadcom said in a statement Thursday. Analysts had estimated $14.6 billion on average, with some projections surpassing $15.1 billion. The r…

7 days ago·San Jose, United States

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Investor's Business Daily

Broadcom Rallies As Chipmaker Shows AI Demand Remains Healthy

Broadcom provided welcome news to investors concerned that the buildout of AI infrastructure had run out of steam. The post Broadcom Rallies As Chipmaker Shows AI Demand Remains Healthy appeared first on Investor's Business Daily.

7 days ago

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