This post was originally published on this site
Broadcom Inc (NASDAQ:AVGO) shares fell 3.3% in after-hours trading following the report. The stock had ended regular session, notching a 52-week high.
Broadcom reported earnings per share of $10.54 on revenue of $8.88 billion. Analysts polled by Investing.com anticipated EPS of $10.43 on revenue of $8.85 billion.
Revenue in quarter was supported by “demand for next generation networking technologies as hyperscale customers scale out and network their AI clusters within data centers,” the company said.
Semiconductor solutions, its core business, rose 78% to $6.94B, while infrastructure software rose 22% to $1.94B.
Looking ahead to fourth quarter, revenue was expected to come in at $9.27B, up 4% from the prior year period, and in-line with Wall Street’s estimates for $9.27B.
