Broadcom's Net Revenue Increases 14% in 1Q
By Allison Prang
Broadcom Inc.'s net revenue rose by a double-digit percentage in
the company's first quarter in particular lifted by its
Net revenue at the company increased 14% from a year earlier to
$6.66 billion, and was above the analyst consensus from FactSet of
$6.62 billion. Net revenue jumped 17% in the company's
semiconductor solutions segment.
The chipmaker's first-quarter net income rose to $1.38 billion,
up from $385 million a year ago. Earnings were $3.05 a share, up
from 74 cents a share. Adjusted earnings were $6.61 a share.
According to FactSet, analysts were expecting $6.56 a share.
The company's operating expenses fell 17%.
Write to Allison Prang at firstname.lastname@example.org
(END) Dow Jones Newswires
March 04, 2021 16:49 ET (21:49 GMT)
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