Broadcom had better-than-expected earnings

By: Miguel A. Rodriguez

09:45, 14 September 2020

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!


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