Broadcom Guides Q4 Revenue to $34.8B, Topping Expectations
AVGO sits 27% above its 52-week low of $289.96.
Summary
Broadcom issued Q4 revenue guidance of $34.8 billion, exceeding consensus estimates and signaling continued strength in AI-driven demand. The company also provided Q4 non-GAAP operating income guidance of about 66% of projected revenue. Third-quarter profit soared on AI-driven revenue growth, with free cash flow of $13.7 billion and cash from operations of $14.2 billion. This follows major developments including the Apple ASIC supply extension through 2031 and the Samsung MOU exceeding $200 billion. With the stock at $368.61 and a market cap near $1.75 trillion, the guidance is material and likely to support positive sentiment.
Updates
· SEC 8-K — Q3 revenue was $29.6B, up 86% YoY; GAAP diluted EPS $2.68, non-GAAP $3.32. Board declared a $0.65 quarterly dividend payable Sept. 30 to holders of record Sept. 21.
At the time of this announcement, AVGO was trading at $368.61 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $289.96 to $495.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.