PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — Broadcom Inc. (AVGO) on Thursday reported fiscal third-quarter net income of $4.14 billion, after reporting a loss in the same period a year earlier.
The Palo Alto, California-based company said it had net income of 85 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.69 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The chipmaker posted revenue of $15.95 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $15.83 billion.
For the current quarter ending in October, Broadcom Inc. said it expects revenue in the range of $17.4 billion.
Broadcom Inc. shares have increased 32% since the beginning of the year, while the S&P’s 500 index has risen 11%. In the final minutes of trading on Thursday, shares hit $306.10, a rise of 99% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVGO at https://www.zacks.com/ap/AVGO
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
