Broadcom Stock Gains on Earnings and Solid Guidance

Broadcom CEO Hock Tan says generative AI applications will boost demand for the company’s networking chips.

On Thursday,


(ticker: AVGO) reported strong earnings and provided a revenue forecast for the April quarter that was above expectations. Its shares rose in after-hours trading.

The chip maker reported fiscal first-quarter adjusted earnings per share of $10.33, topping the $10.17 Wall Street consensus estimate, according to FactSet. Revenue came in at $8.92 billion, roughly in line with expectations of $8.9 billion. The company said its semiconductor-solutions segment had revenue of $7.1 billion in the quarter, while the infrastructure software segment generated $1.8 billion.