Broadcom Inc.: Fiscal Q3 Earnings Snapshot – Miami Herald

SAN JOSE, Calif.

Broadcom Inc. (AVGO) on Thursday reported fiscal third-quarter net income of $1.88 billion.

The San Jose, California-based company said it had profit of $4.20 per share. Earnings, adjusted for one-time gains and costs, came to $6.96 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $6.88 per share.

The chipmaker posted revenue of $6.78 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $6.76 billion.

For the current quarter ending in October, Broadcom Inc. said it expects revenue in the range of $7.35 billion. Analysts surveyed by Zacks had expected revenue of $7.27 billion.

Broadcom Inc. shares have increased 12% since the beginning of the year, while the S&P’s 500 index has risen 21%. In the final minutes of trading on Thursday, shares hit $491.90, a rise of 31% in the last 12 months.