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Investing.com – Broadcom (NASDAQ:AVGO) on Thursday offered a sanguine outlook on fourth-quarter performance on expectations for a ramp-up in wireless performance after reporting fiscal third-quarter results that topped expectations.
Broadcom shares gained 1% in after-hours trade following the report.
The chipmaker said it expects fourth-quarter revenue of $6.4 billion, give or take $150 million, above consensus of $6.2 billion in the upcoming quarter.
The company announced earnings per share of $5.40 on revenue of $5.82 billion. Analysts polled by Investing.com anticipated EPS of $5.24 on revenue of $5.76 billion.
Semiconductor solutions, its core business, fell 4%, to $4.2 billion, while infrastructure software rose 0.41%, to $1.72 billion.
“Our outlook for the fourth quarter reflects a strong anticipated ramp in wireless, as well as the continuing surge in demand for networking from cloud and telecom customers, more than offsetting expected softness in enterprise,” said Hock Tan, President and CEO.
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