Time to Buy Broadcom's (AVGO) Stock After Strong Q2 Results? [Yahoo! Finance]
Broadcom Inc. (AVGO)
Last broadcom inc. earnings: 3/12 04:15 pm
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investors.broadcom.com
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Source: Yahoo! Finance
After reporting impressive Q2 results Wednesday evening, let's see if now is a good time to buy Broadcom's stock. Q2 Review Broadcom's Q2 sales of $12.48 billion soared 43% from $8.73 billion in the comparative quarter, beating estimates of $12.04 billion by 4%. The top line expansion was attributed to AI revenue of $3.1 billion which stretched 280% from the prior year quarter and helped fuel today's rally. On the bottom line, Q2 EPS of $10.96 beat expectations of $10.79 a share by 1% and increased 6% from $10.32 per share a year ago. Image Source: Zacks Investment Research Elevated Guidance Unlike Nvidia NVDA , Broadcom hasn't centered its semiconductor offerings around artificial intelligence but expects strength in AI to continue. To that point, Broadcom's advanced networking chips have played a crucial role in handling vast amounts of data used by AI applications including OpenAI's ChatGPT. This led to Broadcom raising its full-year revenue guidance for fiscal 2024
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AVGO
Earnings
- 6/12/24 - Beat
AVGO
Sec Filings
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- 6/20/24 - Form 144
- AVGO's page on the SEC website