Company News: Broadcom (AVGO) quarterly earnings beat analysts’ forecast

Market news

5 March 2021

Company News: Broadcom (AVGO) quarterly earnings beat analysts’ forecast

Broadcom (AVGO) reported Q1 FY 2021 earnings of $6.61 per share (versus $5.25 per share in Q1 FY 2020), beating analysts’ consensus estimate of $6.56 per share.

The company’s quarterly revenues amounted to $6.655 bln (+13.6% y/y), roughly in line with analysts’ consensus estimate of $6.614 bln.

The company also issued upside guidance for Q2 FY 2021, projecting revenues of $6.50 bln versus analysts’ consensus estimate of $6.33 bln.

AVGO fell to $436.50 (-1.60%) in pre-market trading.

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