Today’s normal stock market trading session was mixed today, with a slight gain on the Nasdaq of +0.25% offset by a -0.30% drop in the S&P 500, -0.54% on the Dow and -0.61% on the small-cap Russell 2000. Things had looked more promising during the morning hours, but couldn’t hold onto gains across the board.Services Sector Results for August: Better than ExpectedBoth monthly reports from the overall Services sector — ISM Services and S&P Services PMI — came in ahead of expectations this morning, and both ab ...

Broadcom Inc. (AVGO) came out with quarterly earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.20 per share. This compares to earnings of $1.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.33%. A quarter ago, it was expected that this chipmaker would post earnings of $1.08 per share when it actually produced earnings of $1.10, delivering a surprise of 1.85%.Over the last four quarters, the company ha ...

G0d4ather I presented my "Sell" thesis on Broadcom Inc. (NASDAQ:AVGO) in my previous coverage in June 2024, noting that aside from AI and VMware, Broadcom's legacy businesses declined by 15% in revenue. Broadcom released its Q3 result on September 5th after the market close, projecting $12 billion in AI revenue for FY24. While I am optimistic about their custom ASCI and AI networking businesses, I remain concerned about their legacy software portfolio, as well as the integration of VMware. I maintain a "Sel ...

Key TakeawaysBroadcom posted a loss in its fiscal third quarter, primarily due to acquisition-related amortization costs.The company is continuing to integrate the software firm VMWare, which it acquired in November.The company's fiscal fourth-quarter guidance came up just short of analysts' expectations. Broadcom (AVGO) shares fell after the closing bell Thursday, sliding following quarterly results that swung to a loss due to increased merger-related expenses. The semiconductor manufacturing company poste ...

Broadcom reported fiscal third-quarter results on Thursday that beat Wall Street expectations for revenue and earnings.Broadcom shares fell 5% in extended trading.Here is how the chipmaking conglomerate did versus LSEG consensus estimates for the quarter ending Aug. 4:Earnings per share: $1.24 adjusted vs. $1.20 expectedRevenue: $13.07 billion vs. $12.97 billion expectedBroadcom expects current-quarter revenue of $14 billion, versus $1.36 per share on $14.04 billion expected.Broadcom reported a net loss of ...

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 ...

Exhibit 99.1 Broadcom Inc. Announces Third Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend • Revenue of $13,072 million for the third quarter, up 47 percent from the prior year period • GAAP net loss of $1,875 million for the third quarter ; Non-GAAP net income of $6,120 million for the third quarter • Adjusted EBITDA of $8,223 million for the third quarter, or 63 percent of revenue • GAAP diluted loss per share of $0.40 for the third quarter; Non-GAAP diluted EPS of $1.24 for the third qu ...

Financial Performance - Company reported revenue of $13,072 million for Q3 2024, a 47% increase from the same period last year [1][2] - GAAP net loss for Q3 2024 was $1,875 million, while non-GAAP net income was $6,120 million [1][2] - Adjusted EBITDA for Q3 2024 was $8,223 million, representing 63% of revenue [1][2] - GAAP diluted loss per share was $0.40, compared to non-GAAP diluted EPS of $1.24 [1][2] - Free cash flow for Q3 2024 was $4,791 million, or 37% of revenue [1][2] Segment Performance - Semiconductor solutions generated $7,274 million in revenue, a 5% increase year-over-year [2] - Infrastructure software revenue was $5,798 million, reflecting a 200% increase year-over-year [2] Guidance and Outlook - Company expects Q4 2024 revenue to be approximately $14.0 billion, a 51% increase from the prior year [1][2] - Adjusted EBITDA guidance for Q4 2024 is projected to be around 64% of revenue [1][2] Dividend Information - Company announced a quarterly cash dividend of $0.53 per share, payable on September 30, 2024 [3]

Key TakeawaysBroadcom's earnings after the bell Thursday could help chip stock recover after shares of Nvidia and other semiconductor companies tumbled earlier this week.Nvidia shares lost ground Tuesday and Wednesday amid concerns about the chipmaker's outlook and following reports U.S. regulators sent the company subpoenas, though Nvidia denied the reports.Broadcom is expected to report revenue and earnings growth, boosted by artificial intelligence demand, which could help reassure investors of the secto ...

This company reported a massive jump in its data center revenue last quarter thanks to its growing traction in the AI chip market.Shares of Broadcom (AVGO 0.87%) delivered impressive gains of 82% in the past year thanks to the company's solid position in the market for custom artificial intelligence (AI) chips, which led to robust growth in the company's semiconductor business. It also helped that Broadcom was named the second-most important AI chip company after Nvidia by JPMorgan analyst Harlan Sur.That d ...