Company news: Broadcom’s (AVGO) quarterly results beat analysts’ expectations

Broadcom (AVGO) reported Q3 FY2024 earnings of $1.24 per share (versus $10.54 per share in Q3 FY2023), beating analysts’ consensus estimate of $1.22 per share.

The company’s quarterly revenues amounted to $13.072 bln (+47.3% y/y), beating analysts’ consensus estimate of $12.979 bln.

The company also issued downside revenue guidance for Q4 FY2024 of ~$14.0 bln versus analysts’ consensus estimate of $14.11 bln.

AVGO fell to $139.50 (-8.72%) in pre-market trading.