Broadcom (AVGO) Q2 Earnings Beat Estimates, Revenues Rise Y/Y

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 ...