Broadcom (AVGO) Q1 Earnings Beat Estimates, Revenues Rise Y/Y

Broadcom (AVGO) reported first-quarter fiscal 2024 non-GAAP earnings of $10.99 per share, beating the Zacks Consensus Estimate by 7.22% and increasing 6.4% year over year.Net revenues increased 34% year over year to $11.96 billion, surpassing the Zacks Consensus Estimate by 2.06%. The upside can be partly attributed to the inclusion of 10.5 weeks of contribution from VMware.Top-Line DetailsSemiconductor solutions revenues (62% of revenues) totaled $7.390 billion, up 4% year over year, driven by the strong a ...