About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Broadcom posted earnings for the second fiscal quarter on Wednesday that beat analyst estimates. It also announced a 10-1 stock split, set to begin trading on a split-adjusted basis on July 15.The stock rose about 10% in extended trading. Here's how the company did versus LSEG consensus estimates for the quarter ended in May:EPS: $10.96, adjusted, vs. $10.84 expectedRevenue: $12.49 billion vs. $12.01 billion expectedThe chipmaker said that it expected about $51 billion in sales during its fiscal 2024 year. ...

Exhibit 99.1 Broadcom Inc. Announces Second Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend • Revenue of $12,487 million for the second quarter, up 43 percent from the prior year period • GAAP net income of $2,121 million for the second quarter; Non-GAAP net income of $5,394 million for the second quarter • Adjusted EBITDA of $7,429 million for the second quarter, or 59 percent of revenue • GAAP diluted EPS of $4.42 for the second quarter; Non-GAAP diluted EPS of $10.96 for the second quar ...

Revenue of $12,487 million for the second quarter, up 43 percent from the prior year periodGAAP net income of $2,121 million for the second quarter; Non-GAAP net income of $5,394 million for the second quarterAdjusted EBITDA of $7,429 million for the second quarter, or 59 percent of revenueGAAP diluted EPS of $4.42 for the second quarter; Non-GAAP diluted EPS of $10.96 for the second quarterCash from operations of $4,580 million for the second quarter, less capital expenditures of $132 million, resulted in ...

SAN JOSE, CALIFORNIA - JUNE 03: A sign is posted in front of a Broadcom office on June 03, 2021 in ... [+] San Jose, California. Chipmaker Broadcom will report second quarter earnings today after the closing bell and is expected to beat analyst expectations. (Photo by Justin Sullivan/Getty Images)Getty ImagesBroadcom is scheduled to report earnings after Wednesday’s close. The stock just hit a record high of $1505.80 and is currently trading near that level. The stock is prone to big moves after reporting e ...

Investment Rating - Buy rating with a target price of $1716, representing a 22% upside [1][8] Core Views - Broadcom is a platform-based tech giant with strong integration capabilities, benefiting from AI-driven semiconductor demand and VMware's software business [4][5] - The company's semiconductor solutions, especially in networking and XPU, are expected to grow significantly due to AI trends [5][9] - VMware acquisition enhances Broadcom's software business, contributing to long-term profitability [5][55] Financial Performance - FY24-26 revenue growth projected at 43.4%/12.1%/9.9%, with Non-GAAP net income growth of 19.9%/22.7%/17.5% [8][9] - FY24 semiconductor revenue expected to grow 10.8%, driven by AI-related demand, while software revenue is projected to grow 163.4% due to VMware integration [9][69] - FY24-26 Non-GAAP net margins forecasted at 45.5%/49.8%/53.3%, supported by high-margin software and operational efficiency [72] Semiconductor Solutions - Networking revenue expected to grow 39% in FY24, driven by AI-driven demand for Ethernet and custom ASIC chips [5][9] - XPU business projected to generate $7 billion in FY24, with AI-related revenue accounting for 35% of semiconductor revenue [5][50] - Broadcom's leadership in SerDes IP and optical transceivers positions it well for AI infrastructure needs [34][36] Software Business - VMware integration boosts software revenue to 38% of total revenue in FY24Q1, with VMware contributing $2.1 billion [5][56] - VMware's revenue is expected to grow double-digit sequentially in FY24, reaching $20 billion for the full year [63][69] - Broadcom's historical success in software integration, including CA Technologies and Symantec, supports confidence in VMware's integration [55][58] Industry Trends - AI-driven demand for networking and XPU chips is reshaping the semiconductor industry, with Ethernet and InfiniBand expected to coexist in AI infrastructure [23][26] - XPU market projected to reach $42.9 billion by 2028, driven by tech giants' in-house chip development and AI applications [46][48] - VMware's dominance in virtualization and hybrid cloud markets strengthens Broadcom's position in the software-defined data center space [61][66]

A dividend portfolio is one of the most reliable paths to passive income. You only need to buy a few dividend stocks, monitor them occasionally and watch the cash flow arrive. These assets make passive income accessible to anyone, but you have to pick the right stocks to compound your gains.You have a few options once you have a solid group of dividend stocks. Some investors use dividends to cover their living expenses, while others reinvest them. Reinvesting your dividends will result in a higher quarterly ...

Wall Street is reevaluating its outlook for some AI-centric stocks.Much of the broad market rally that began early last year has its origins in the growing potential of artificial intelligence (AI). Indeed, the world is just beginning to grasp the vast opportunity afforded by AI as investors scramble to profit from these next-generation algorithms. Wall Street is doing its level best to stay ahead of the curve, regularly releasing a flurry of new pronouncements.That appeared to be the driving factor today b ...

Broadcom (AVGO) is set to report its second-quarter fiscal 2024 results on June 12.The Zacks Consensus Estimate for revenues is pegged at $12.04 billion, suggesting growth of 37.88% from Q2 2023 reported figures.The consensus mark for earnings has increased 0.8% to $10.79 per share over the past 30 days, indicating 4.55% growth from Q2 2023.Broadcom’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 2.81%.Fiscal second-quarter results are expe ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...