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Broadcom Inc.
AVGO, + 0.86%
Shares slid during the broad session on Thursday after the chip maker surpassed Wall Street's earnings guidance, while leaving its outlook unchanged. Broadcom shares fell 2.2% after normal hours, following a 0.8% rise in regular session to close at $ 300.58. The company announced a third quarter fiscal net profit of $ 715 million, or $ 1.71 per share, compared with $ 1.2 billion, or $ 2.71 per share, for the same period of the year. previous. Adjusted earnings were $ 5.16 per share. Revenues reached $ 5.52 billion compared to $ 5.06 billion for the same quarter last year. Analysts surveyed by FactSet were expecting earnings per share of $ 5.13 on a turnover of $ 5.52 billion. Broadcom expects an annual business turnover of about 22.5 billion, while analysts expected a turnover of 22.61 billion dollars. The company also reported a $ 3.5 million reduction in its shares of $ 997 million during the quarter.
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