Broadcom Inc., a chip manufacturing company, competing with Nvidia for revenue from the Artificial Intelligence segment, reported results after market hours on Thursday that beat expectations, as did the company's guidance. However, the stock fell as much as 5.5% in extended trading on Wall Street.

Broadcom reported fourth quarter revenue of $18.02 billion, higher than the $17.49 billion estimated by analysts, while its Earnings Per Share (EPS) stood at $1.95, which was also higher than the $1.86 estimate.

The company projected first quarter revenue to be $19.1 billion, implying a growth of 28% from last year, and also higher than the average analyst estimate of $18.3 billion. CEO Hock Tan said that revenue from the AI chip sales will double in the first quarter, compared to the same per

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