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Broadcom Inc.: Fiscal 2Q Earnings Snapshot

June 13, 2019

SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal second-quarter earnings of $691 million.

On a per-share basis, the San Jose, California-based company said it had net income of $1.64. Earnings, adjusted for one-time gains and costs, were $5.21 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.17 per share.

The chipmaker posted revenue of $5.52 billion in the period, which fell short of Street forecasts. Ten analysts surveyed by Zacks expected $5.66 billion.

Broadcom Inc. expects full-year revenue of $22.5 billion.

Broadcom Inc. shares have climbed 11% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. In the final minutes of trading on Thursday, shares hit $281.61, a climb of nearly 7% in the last 12 months.

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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

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