Broadcom reports Q4 beat & strong guidance, shares up 2%
Broadcom Reports Q4 Beat & Strong Guidance, Shares Up 2% AVGO +2.43% Add to/Remove from Watchlist Add to Watchlist Add Position
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By Davit Kirakosyan
Broadcom (NASDAQ:AVGO) shares rose more than 2% after-hours after the company reported its Q4 results, with EPS of $10.45 coming in better than the Street estimate of $10.28. Revenue was $8.93 billion, compared to the Street estimate of $8.9B.
Full 2022-year revenue grew 21% year-over-year to a record $33.2B, as a result of strong demand from hyperscale, service providers, and enterprise.
“This growth was driven by our strong partnerships with customers and accelerated adoption of our next generation technologies. As we look into fiscal 2023, our increased R&D investments during the preceding years position us to extend our leadership in next generation products within the end markets we address,” said Hock Tan, President and CEO of Broadcom Inc.
The company expects Q1/23 revenue to be $8.9B, better than the Street estimate of $8.79B.
Furthermore, the Board of Directors has approved a quarterly cash dividend on its common stock of $4.60 per share, payable on December 30, 2022 to common stockholders of record at the close of business on December 20, 2022.