Broadcom Inc.’s earnings came in line with expectations
For the third quarter, Broadcom expects revenue of $5.75 billion
Stocks impacted: Broadcom Inc. (AVGO)
The semiconductor and software company revealed quarterly results that were broadly in line with Wall Street estimates and saw limited impact from the effects of COVID-19. Fiscal second-quarter net income came in at $488 million, or $1.17 a share, compared with $691 million, or $1.64 a share, in the year-ago period. Revenue rose to $5.74 billion from $5.52 billion. The firm reported chip sales of $4.03 billion and infrastructure software sales of $1.72 billion. The company said it had more than 18,400 customers as of April 30. For the third quarter, Broadcom expects revenue of $5.75 billion, plus or minus $150 million. Full year fiscal 2021 revenue is expected to be in the range of $520 million to $530 million. Broadcom Inc.’s stocks fluctuated following the report and finished 0.21% lower overnight.
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