Justin Sullivan
Broadcom (NASDAQ: AVGO) shares were higher in after-hours trading after the semiconductor company reported fourth-quarter results that topped expectations.
For the period ending October 30, Broadcom ( AVGO ) earned adjusted earnings of $10.45 per share on $8.93B in revenue, up 21% year over year. To be included in its highest growth was $ 7.09B from semiconductor-related investments and $ 1.83B in sales related to infrastructure software.
Analysts were expecting the company to earn $10.29 per share on $8.9B in revenue.
Looking ahead to the first quarter, Broadcom-led Hock Tan ( AVGO ) said it expects revenue to be around $8.9B, slightly above the $8.8B forecast by analysts.
Broadcom ( AVGO ) also said it expects first-quarter EBITDA margin to be “about 63 percent of expected revenue.”
The company will hold a conference call at 5 pm EST to discuss the results.
Earlier this week, it was reported that the Federal Trade Commission’s review of Broadcom’s ( AVGO ) $61B planned acquisition of VMWare ( VMW ) focused on the effects of the merger.
