Broadcom shares surge on earnings beat, increased demand for AI products

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 ...