Broadcom beat the estimates
One of the largest designers, developers, manufacturers of #semiconductors and #software, Broadcom, released its Q2 earnings which topped the expectations.
Broadcom reported revenues of $5.82 billion, the figures coming in higher than the $5.76 billion forecasted. Its earnings per share were $5.40, beating the $5.24 consensus.
The San Jose-based company had sales of $5.5 billion in #Q2. Its quarterly dividends are at $3.25 per share. Broadcom’s cash flow increased by 33% compared to last year’s figures.
For the next quarter, Broadcom expects its revenue to reach a high of $6.55 billion, while the analysts are looking for $6.18 billion. Also, it plans to pay down $3 billion in debt.
Following the report, Broadcom stock price gained more than 3%, while TECH100 lost over 5%.
See how other companies from the tech sector have performed in the past quarter here!
Sources: thestreet.com, finance.yahoo.com
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