{"id":55881,"date":"2023-09-01T17:04:04","date_gmt":"2023-09-01T21:04:04","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/broadcom-delivers-upbeat-guidance-as-q3-results-top-estimates-amid-ai-led-demand\/"},"modified":"2023-09-01T17:04:06","modified_gmt":"2023-09-01T21:04:06","slug":"broadcom-delivers-upbeat-guidance-as-q3-results-top-estimates-amid-ai-led-demand","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55881","title":{"rendered":"Broadcom delivers upbeat guidance as Q3 results top estimates amid AI-led demand"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Investing.com &#8212; Broadcom\u00a0reported Thursday better-than-expected revenue guidance for current quarter and third-quarter results\u00a0that beat analysts&#8217; forecasts as the\u00a0chipmaker expects AI-related spending on infrastructure software and semiconductors to boost demand.\u00a0<\/p>\n<p>Broadcom Inc (NASDAQ:) shares fell 3.3% in after-hours trading following the report. The stock had ended regular session, notching a 52-week high.\u00a0<\/p>\n<p>Broadcom  earnings per share of $10.54 on revenue of $8.88 billion. Analysts polled by Investing.com anticipated EPS of $10.43 on revenue of $8.85 billion.<\/p>\n<p>Revenue in quarter was supported by\u00a0&#8220;demand for next generation networking technologies as hyperscale customers scale out and network their AI clusters within data centers,&#8221; the company said.\u00a0<\/p>\n<p>Semiconductor solutions, its core business, rose 78% to $6.94B, while infrastructure software rose 22% to $1.94B.<\/p>\n<p>Looking ahead to fourth quarter, revenue was expected to come in at $9.27B, up 4% from the prior year period, and in-line with Wall Street&#8217;s estimates for $9.27B.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/broadcom-delivers-upbeat-guidance-as-q3-results-top-estimates-amid-ailed-demand-3165618\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters Investing.com &#8212; Broadcom\u00a0reported Thursday better-than-expected revenue guidance for current quarter and third-quarter results\u00a0that beat analysts&#8217; forecasts as the\u00a0chipmaker expects AI-related spending on infrastructure software and semiconductors to boost demand.\u00a0 Broadcom Inc (NASDAQ:) shares fell 3.3% in after-hours trading following the report. The stock had ended regular session, notching a 52-week high.\u00a0 Broadcom earnings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55881","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Broadcom delivers upbeat guidance as Q3 results top estimates amid AI-led demand | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- Broadcom\u00a0reported Thursday better-than-expected revenue guidance for current quarter and third-quarter results\u00a0that beat\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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