Stock Markets 4 hours ago (Sep 01, 2022 09:06PM ET)
© Reuters. Broadcom Earnings, Revenue Beat in Q3
Investing.com – Broadcom (NASDAQ:) reported on Thursday third quarter that beat analysts’ forecasts and revenue that topped expectations.
Broadcom announced earnings per share of $9.73 on revenue of $8.46B. Analysts polled by Investing.com anticipated EPS of $9.56 on revenue of $8.41B.
Broadcom shares are down 43% from the beginning of the year, still down 27.41% from its 52 week high of $677.76 set on December 28, 2021. They are under-performing the Nasdaq which is down 24.67% from the start of the year.
Broadcom follows other major Information Technology sector earnings this month
Broadcom’s report follows an earnings beat by NVIDIA on August 24, who reported EPS of $0.51 on revenue of $6.7B, compared to forecasts EPS of $0.4991 on revenue of $6.7B.
Cisco had beat expectations on August 17 with fourth quarter EPS of $0.83 on revenue of $13.1B, compared to forecast for EPS of $0.8162 on revenue of $12.73B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar