Broadcom Earnings, Revenue Beat in Q1 By Investing.com

By Yasin Ebrahim

Broadcom (NASDAQ:AVGO) reported on Thursday first-quarter results that beat analysts’ forecasts and revenue that topped expectations.

Broadcom shares gained 0.57% in after-hours trade following the report.

The company expects second-quarter revenue of about $6.5 billion. Q2 adjusted EBITDA is forecast to be approximately 59% of projected revenue.

Broadcom announced earnings per share of $6.61 on revenue of $6.66 billion. Analysts polled by Investing.com anticipated EPS of $6.56 on revenue of $6.61 billion.

Semiconductor solutions, its core business, rose 17% to $4.91 billion, while infrastructure software added 5%% to $1.75 billion.

“This growth reflects the critical role our technology franchises play in this environment of accelerated digital transformation,” the company said.