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Broadcom Limited (AVGO - Free Report) just released its latest quarterly financial results, posting earnings of xx and revenues of $5.01 billion.
Currently, AVGO is a Zacks Rank #4 (Sell), but that could change based on today’s results. Shares of the company have gained about 10% over the past month, including a 0.4% gain during regular trading hours today.
The stock is currently up 0.9% to $267.00 per share in after-hours trading shortly after its earnings report was released.
Broadcom:
Beat earnings estimates. The company posted earnings of $4.88 per share, beating the Zacks Consensus Estimate of $4.77. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $5.01 billion, just edging out our consensus estimate of $5.00 billion.
Revenue was up 20% from the prior-year period. GAAP Gross margin was 50.9% compared to 47.2% in the same quarter last year. Operating expenses were down from $1.50 billion to just $1.35 billion.
Broadcom set a quarterly dividend of $1.75 per share and returned $1.5 billion to shareholders in the form of share repurchases.
“Our business continues to be very robust and sustainable. This is validated through our strong execution in the second quarter which drove [non-GAAP] gross margin to a record 66.6 percent and free cash flow to 42.3 percent of net revenue,” said CEO Hock Tan.
Broadcom expects Q3 fiscal 2018 revenue to be $5.05 billion, plus or minus $75 million. Prior to the report, our latest Zacks Consensus Estimate was calling for Q3 revenue of $5.06 billion.
Here’s a graph that looks at Broadcom’s recent earnings performance:
Broadcom Limited Price, Consensus and EPS Surprise
Broadcom Inc. designs, develops, and markets digital and analog semiconductors. The company offers wireless RF components, storage adapters, controllers, networking processors, switches, fiber optic modules, motion control encoders and optical sensors.
Check back later for our full analysis on AVGO’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Broadcom (AVGO) Reports Q2 Earnings Beat, 20% Revenue Growth
Broadcom Limited (AVGO - Free Report) just released its latest quarterly financial results, posting earnings of xx and revenues of $5.01 billion.
Currently, AVGO is a Zacks Rank #4 (Sell), but that could change based on today’s results. Shares of the company have gained about 10% over the past month, including a 0.4% gain during regular trading hours today.
The stock is currently up 0.9% to $267.00 per share in after-hours trading shortly after its earnings report was released.
Broadcom:
Beat earnings estimates. The company posted earnings of $4.88 per share, beating the Zacks Consensus Estimate of $4.77. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $5.01 billion, just edging out our consensus estimate of $5.00 billion.
Revenue was up 20% from the prior-year period. GAAP Gross margin was 50.9% compared to 47.2% in the same quarter last year. Operating expenses were down from $1.50 billion to just $1.35 billion.
Broadcom set a quarterly dividend of $1.75 per share and returned $1.5 billion to shareholders in the form of share repurchases.
“Our business continues to be very robust and sustainable. This is validated through our strong execution in the second quarter which drove [non-GAAP] gross margin to a record 66.6 percent and free cash flow to 42.3 percent of net revenue,” said CEO Hock Tan.
Broadcom expects Q3 fiscal 2018 revenue to be $5.05 billion, plus or minus $75 million. Prior to the report, our latest Zacks Consensus Estimate was calling for Q3 revenue of $5.06 billion.
Here’s a graph that looks at Broadcom’s recent earnings performance:
Broadcom Limited Price, Consensus and EPS Surprise
Broadcom Limited Price, Consensus and EPS Surprise | Broadcom Limited Quote
Broadcom Inc. designs, develops, and markets digital and analog semiconductors. The company offers wireless RF components, storage adapters, controllers, networking processors, switches, fiber optic modules, motion control encoders and optical sensors.
Check back later for our full analysis on AVGO’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>