[ad_1]
Broadcom Inc.
AVGO, -2.46%
Shares rebounded in the extended session on Thursday after the chip maker surpassed Wall Street earnings estimates. Broadcom shares rose 3% after hours, following a 2.5% decline from the close of the regular session to $ 215.97. The company reported third-quarter net income of $ 1.2 billion, or $ 2.71 per share, compared with $ 481 million or $ 1.14 per share for the same period last year. . Adjusted earnings were $ 4.98 per share. Sales reached $ 5.06 billion, up from $ 4.46 billion last year. Analysts surveyed by FactSet estimated at $ 4.83 per share turnover of $ 5.06 billion. For the fourth quarter, Broadcom estimates its revenues at $ 5.48 billion, against $ 5.37 billion for analysts. At the close on Thursday, Broadcom shares were down 16% for the year so far, while the S & P 500 Index
SPX, -0.37%
is up 7.7% and the Nasdaq composite index
COMP -0.91%
is up nearly 15%.
Get the latest news in your inbox. Subscribe to free e-mails from the MarketWatch Bulletin. register here
Source link
