Broadcom shares are up about 12% on Thursday after the company posted second fiscal quarter earnings that beat analysts' estimates and showed the company is benefiting from the artificial intelligence boom.Broadcom reported earnings per share of $10.96 ahead of LSEG consensus estimates of $10.84 per share. It reported revenue of $12.49 billion, beating the expected $12.03 billion.The chipmaker expects about $51 billion in sales during its fiscal 2024 year, an increase from the company's previous forecast, a ...

Broadcom (AVGO) reported second-quarter fiscal 2024 non-GAAP earnings of $10.96 per share, beating the Zacks Consensus Estimate by 1.58% and increasing 6.2% year over year.Net revenues increased 43% year over year to $12.48 billion, surpassing the Zacks Consensus Estimate by 3.71%. The upside can be attributed to VMware that contributed $2.7 billion in revenues for the second quarter, up from $2.1 billion in the prior quarter.AI-related revenues surged 280% year over year to $3.1 billion, which was also a m ...

Key TakeawaysBroadcom shares traded at another record high Thursday on enthusiasm over its position in the artificial intelligence (AI) market.The stock got a lift from the company's sales, stock split, and upbeat analysts' comments.Bank of America, Goldman Sachs, and Mizuho all raised their price targets. Broadcom’s (AVGO) position in the booming artificial intelligence (AI) market helped send shares to a fresh all-time high on Thursday. The stock, which is on pace to close at a record high for a fourth st ...

Another leading tech company is getting ready to split its stock in the coming weeks. Broadcom (NASDAQ:AVGO) recently reported second-quarter earnings, beating analyst estimates on both adjusted EPS and revenue. However, that isn’t the only positive development for the semiconductor giant. Indeed, Broadcom is planning a 10-for-1 stock split, scheduled to take effect on July 15.This news gives investors about one month to stock up on AVGO stock in order to benefit from the split. However, as AVGO currently t ...

The semiconductor and networking specialist got a big boost from artificial intelligence (AI) and a stock split.Shares of Broadcom (AVGO 13.54%) surged higher on Thursday, jumping as much as 16.1%. As of 11:41 a.m. ET, the stock was still up 13.2%.The catalyst that sent the semiconductor specialist higher was robust artificial intelligence (AI) results and a stock split.A big boost from AIIn the second quarter, Broadcom generated revenue that rose 43% year over year to $12.5 billion, driving adjusted earnin ...

Semiconductor concern Broadcom Inc (NASDAQ:AVGO) is taking notes from Nvidia (NVDA). After reporting a fiscal second-quarter earnings and revenue beat, the company issued an upbeat annual forecast amid strong artificial intelligence (AI) chip demand and announced a 10-for-1 stock split.  AVGO is up 14.7% to trade at $1,700.65 at last check, after notching a record high of $1,715.74 earlier. No fewer than 14 analysts raised their price objectives in response, including Jefferies to $2,050 from $1,550. The br ...

Broadcom (NASDAQ:AVGO) stock is climbing about 15% to a new all-time high and trending on social media and business news websites. This comes after the semiconductor maker reported that it expects its revenue from artificial intelligence (AI) chips to come in above its previous outlook. The tech giant also announced a 10-for-1 split of AVGO stock. Broadcom’s Beat-and-Raise ResultsThe chipmaker’s top line soared 43% versus the same period a year earlier to $12.49 billion. Analysts, on average, had expected i ...

Shares of Broadcom Inc. NASDAQ: AVGO soared 15.3% in the after-market hours of Wednesday evening. The reaction came after the company reported its second quarter 2024 financial results, which were better than expected, to say the least. Some in the financial markets thought that only technology stocks like NVIDIA Co. NASDAQ: NVDA were worthy of attention, but they were wrong.Broadcom TodayAVGOBroadcom$1,495.51 +34.48 (+2.36%) 52-Week Range$795.09▼$1,505.80Dividend Yield1.40%P/E Ratio55.43Price Target$1,371. ...

Broadcom's CEO shared some thoughts about Nvidia during its recent earnings.In today's video, I discuss recent updates affecting Nvidia (NVDA 3.55%), Intel (INTC -0.52%), and Broadcom (AVGO 2.36%). Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were the after-market prices of June 12, 2024. The video was published on June 12, 2024. ...

PALO ALTO, Calif., June 13, 2024 (GLOBE NEWSWIRE) -- Broadcom Inc. (NASDAQ: AVGO) today announced it is further enhancing customer-focused innovation through the expansion of the Broadcom Advantage Partner Program for VMware Cloud Service Providers (VCSPs) in Europe. More than 50 VCSP Pinnacle Partners in Europe have joined the Broadcom Advantage Partner Program since February 2024. A Pinnacle partner designation signifies a cloud provider’s technology expertise in providing VMware Cloud Foundation as a ser ...