Broadcom Inc reports results for the quarter ended July 31 - Earnings Summary

• Broadcom Inc AVGO reported quarterly adjusted earnings of $1.69​​ per share for the quarter ended July 31, higher than the same quarter last year, when the company reported EPS of $1.24. The mean expectation of thirty four analysts for the quarter was for earnings of $1.65 per share. Wall Street expected results to range from $1.35 to $1.73 per share.

• Revenue rose 22% to $15.95 billion from a year ago; analysts expected $15.82 billion.

• Broadcom Inc's reported EPS for the quarter was 85 cents​.

• The company reported quarterly net income of $4.14 billion.

• Broadcom Inc shares had risen by 9.7% this quarter and gained 30.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 41 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Broadcom Inc is $315.00, about 4% above its last closing price of $302.39

This summary was machine generated from LSEG data September 4 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)