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Broadcom reported fiscal third-quarter earnings that beat expectations and provided robust guidance for the current quarter. The stock rose in extended trading after the company said it had secured $10 billion in orders from a new client for custom chips.
Here's how the chipmaker did versus LSEG consensus estimates:
Earnings per share: $1.69 adjusted vs. $1.65 expected
Revenue: $15.96 billion vs. $15.83 billion expected
Broadcom said it expects $17.4 billion in fourth-quarter revenue, higher than the $17.02 billion expected by Wall Street analysts. Revenue in the third quarter rose 22% on an annual basis.
The company reported net income of $4.14 billion, or 85 cents per share, after recording a net l