
"Performance" Broadcom's last quarter performance exceeded expectations, expects first quarter AI chip sales to double year-on-year
Broadcom (AVGO.US) announced its fourth-quarter results, with net profit increasing by 97% year-on-year to $8.5 billion, and adjusted earnings per share of $1.95, exceeding expectations of $1.86; revenue grew by 28% year-on-year to $18 billion, surpassing the expected $17.5 billion. The stock rose over 3% in after-hours trading.
During the period, sales of artificial intelligence chips in the semiconductor solutions business reached $11.07 billion, a year-on-year increase of 22%, exceeding expectations. Infrastructure software sales amounted to $6.94 billion, a growth of 26%, but still exceeded Wall Street expectations.
Broadcom expects first-quarter revenue to be approximately $19.1 billion, a year-on-year increase of 28%, higher than the earlier expectation of $18.3 billion.
CEO Hock Tan stated that Broadcom anticipates first-quarter AI chip sales to double year-on-year, reaching $8.2 billion, which includes customized AI chips and chips used for AI networks
