Fiscal Q3 revenue and adjusted EPS growth slightly surpassed Wall Street's estimates. Fiscal Q4 revenue guidance of $14 billion fell a little short of the $14.11 billion analyst consensus estimate.
Major U.S. equities indexes plunged following the release of the latest employment report, which showed the economy added fewer jobs than expected in August.
Broadcom (AVGO) shares tumbled Friday after the company's outlook disappointed investors, but analysts were broadly bullish on the stock, suggesting that its recent losses could present an opportunity to buy the dip.
Broadcom beat estimates on the top and bottom lines, but only slightly. Revenue guidance was a bit weaker than expected.
Analysts see long-term strength for Broadcom Inc AVGO after the company reported quarterly financial results.
Price support for Broadcom stock sits near 130.
Broadcom Inc.'s stock slid 9% Friday, but its two most-active bonds were signaling that bondholders were unfazed by the company's latest earnings report.
AVGO's third-quarter fiscal 2024 results benefit from strong demand for AI networking and VMware solutions. However, shares fall on weak Q4 guidance.
Semiconductor stock Broadcom Inc (NASDAQ:AVGO) is down 9.1% to trade at $138.97, after the company reported worse-than-expected revenue guidance for its fiscal fourth quarter, overshadowing top- and bottom-line beats for the third quarter.
Is Broadcom a true competitor to Nvidia?
Sales of Broadcom's AI-focused chips soared in the second quarter. Palantir's greater push into commercial AI services is paying off.
Investors will be closely watching for fresh jobs data that could influence the Federal Reserve's stance on interest rates, Broadcom (AVGO) shares are tumbling in pre-market trading after the chipmaker issued light revenue guidance for the current quarter, the U.S. is rolling out new export controls on critical technologies, and more. Here's what investors need to know today.