Broadcom's Q4: $8.52B Profit, 75% Stock Growth

Broadcom Incorporated exceeded financial expectations with a net income of $8.52 billion, or $1.74 per share, for the fourth fiscal quarter. Adjusted earnings came in at $1.95 per share, surpassing analyst predictions of $1.87 per share. Revenue reached $18.02 billion, also surpassing the forecasted $17.5 billion. For the full year, Broadcom reported a profit of $23.13 billion, or $4.77 per share, and total revenue of $63.89 billion. Looking ahead, Broadcom projects higher revenue for the upcoming quarter and has seen significant stock growth, with shares reaching $406.37, more than doubling their value over the last year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.