Chipmaker Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings and revenues for the third quarter of 2021. Its shares made modest features quickly after the announcement.
The corporate posted adjusted earnings of $6.96 per share for the July quarter, up from final 12 months’s revenue of $5.40 per share. The reported web earnings was $1.80 billion or $4.20 per share, in comparison with $614 million or $1.45 per share within the third quarter of 2020. Analysts had predicted a barely smaller quantity for the latest quarter.
Driving the revenue development, web revenues moved up 16% yearly to $6.78 billion and barely exceeded the Road view.
Learn administration/analysts’ feedback on Broadcom’s Q3 outcomes
Shares of the corporate gained in after-hours buying and selling on Thursday, after closing the common session decrease.