Daily Scoop🍨: AI Springs Broadcom (AVGO) Stock Upwards ! 💪🚀🔥

$Broadcom(AVGO)$

Broadcom reported better-than-expected earnings Thursday afternoon. Its shares rose in after-hours trading.

The semiconductor company reported fiscal fourth-quarter adjusted earnings per share of $1.42, compared to Wall Street's consensus estimate of $1.39 cents, according to FactSet. Revenue came in at $14.05 billion, which was roughly in-line with analysts' expectations of $14.07 billion.

Broadcom also forecast sales of $14.6 billion for the current quarter versus a $14.55 billion estimate from analysts.

For fiscal 2024 "AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio," CEO Hock Tan said in a press release.

Broadcom shares were up as much as 5% in late trading following the report.

The company said its semiconductor-solutions segment for the fiscal fourth quarter had revenue of $8.2 billion, while the infrastructure software segment generated $5.8 billion.

Broadcom's semiconductors are in a number of categories, including networking, broadband, server storage, wireless, and industrial. Some of the company's chips have exposure to generative artificial intelligence applications.

Broadcom shares are up 62% this year as of Thursday's close, compared with the 13% rise for the iShares Semiconductor sector ETF.

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Its shares rose in after-hours trading.</p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b580feb2ea1f77a128c1b7c430856580\" tg-width=\"1179\" tg-height=\"762\"><span></span></p>\n<p>The semiconductor company reported fiscal fourth-quarter adjusted earnings per share of $1.42, compared to Wall Street's consensus estimate of $1.39 cents, according to FactSet. Revenue came in at $14.05 billion, which was roughly in-line with analysts' expectations of $14.07 billion.</p>\n<p>Broadcom also forecast sales of $14.6 billion for the current quarter versus a $14.55 billion estimate from analysts.</p>\n<p>For fiscal 2024 \"AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio,\" CEO Hock Tan said in a press release.</p>\n<p>Broadcom shares were up as much as 5% in late trading following the report.</p>\n<p>The company said its semiconductor-solutions segment for the fiscal fourth quarter had revenue of $8.2 billion, while the infrastructure software segment generated $5.8 billion.</p>\n<p>Broadcom's semiconductors are in a number of categories, including networking, broadband, server storage, wireless, and industrial. Some of the company's chips have exposure to generative artificial intelligence applications.</p>\n<p>Broadcom shares are up 62% this year as of Thursday's close, compared with the 13% rise for the iShares Semiconductor sector ETF.</p>\n<p></p>\n<p><br></p></body></html>","htmlText":"<html><head></head><body><a href=\"https://ttm.financial/S/AVGO\">$Broadcom(AVGO)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;\n<p>Broadcom reported better-than-expected earnings Thursday afternoon. Its shares rose in after-hours trading.</p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b580feb2ea1f77a128c1b7c430856580\" tg-width=\"1179\" tg-height=\"762\"><span></span></p>\n<p>The semiconductor company reported fiscal fourth-quarter adjusted earnings per share of $1.42, compared to Wall Street's consensus estimate of $1.39 cents, according to FactSet. Revenue came in at $14.05 billion, which was roughly in-line with analysts' expectations of $14.07 billion.</p>\n<p>Broadcom also forecast sales of $14.6 billion for the current quarter versus a $14.55 billion estimate from analysts.</p>\n<p>For fiscal 2024 \"AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio,\" CEO Hock Tan said in a press release.</p>\n<p>Broadcom shares were up as much as 5% in late trading following the report.</p>\n<p>The company said its semiconductor-solutions segment for the fiscal fourth quarter had revenue of $8.2 billion, while the infrastructure software segment generated $5.8 billion.</p>\n<p>Broadcom's semiconductors are in a number of categories, including networking, broadband, server storage, wireless, and industrial. 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Broadcom shares were up as much as 5% in late trading following the report. The company said its semiconductor-solutions segment for the fiscal fourth quarter had revenue of $8.2 billion, while the infrastructure software segment generated $5.8 billion. Broadcom's semiconductors are in a number of categories, including networking, broadband, server storage, wireless, and industrial. Some of the company's chips have exposure to generative artificial intelligence applications. 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