Broadcom delivers upbeat guidance as AI-related revenue soars

Investing.com - Broadcom on Thursday delivered upbeat revenue guidance for the current quarter amid surging AI-revenue, though the chipmaker reported mixed Q4 results as revenue fell just short of estimates.

Broadcom Inc (NASDAQ: AVGO) shares gained 4% in after-hours trade following the report.

For three months ended Nov. 3, the chipmaker announced earnings per share of $1.42 on revenue of $14.05 billion. Analysts polled by Investing.com anticipated EPS of $1.39 on revenue of $14.07 billion.

Semiconductor solutions, its core business, jumped 12% to $8.23B, while infrastructure software rose 196% to $5.82B.

For 2024, semiconductor revenue was a "record $30.1 billion driven by AI revenue of $12.2 billion," the company said. "AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio," it added.

Looking ahead, the chipmaker said it expects Q1 revenue of $14.6B, above consensus of $14.55B.

You May Also Be Interested In

• Western Digital issues preliminary results, announces surprise CFO departure
• Citizens Financial Group (CFG) Tops Q4 EPS by 3c
• Active options: AVGO UBER RGTI META QUBT CVNA RIVN AAL HOOD COIN