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AVGO Earnings: Broadcom Q4 profit beats estimates; revenue up 4%

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Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings for the fourth quarter. The tech firm also provided guidance for fiscal 2024.

Earnings, excluding non-recurring items, came in at $11.06 per share in the October quarter, compared to last year’s profit of $10.45 per share. Unadjusted net income was $3.52 billion or $8.25 per share in Q4, vs. $3.36 billion or $7.83 per share in the fourth quarter of 2022.

Fourth-quarter revenues totaled $9.30 billion, compared to $8.93 billion last year. The management said it expects fiscal 2024 revenues to be around $50 billion. Earnings beat analysts’ estimates.

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