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For the quarter, Broadcom expects revenues of roughly $8.9 billion, up 16% year over year.
The Zacks Consensus Estimate for revenues currently stands at $8.89 billion, suggesting growth of 15.36% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained steady at $10.16 per share over the past 30 days, indicating 21.1% growth from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 2.43%.
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top-line growth is expected to have benefited from strong demand for its networking solutions that includes Tomahawk 4 and Jericho portfolio. The strong adoption of Tomahawk 4 for data center switching by hyperscalers is expected to have driven top-line growth in the to-be-reported quarter.
Broadcom expects networking revenues to be strong and grow about 20% year over year in the fiscal first quarter.
Moreover, continued strong adoption of its next-generation MegaRAID and storage adapters is expected to have driven Broadcom’s storage connectivity revenues in the to-be-reported quarter. Broadcom expects server storage connectivity revenues to grow more than 50% year over year.
Robust adoption of Wi-Fi 6 and Wi-Fi 6E for access gateways, courtesy of solid demand from homes, enterprises, telcos and other service providers, is expected to have contributed to revenue growth across the broadband end market in the fiscal first quarter. Broadband revenues are expected to grow 30% on a year-over-year basis.
Acceleration in 5G deployment, production ramp-up and increase in radio frequency content is expected to have driven top-line growth.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Broadcom has an Earnings ESP of +1.36% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
Splunk is likely to release its fourth-quarter fiscal 2023 results on Mar 1. SPLK shares have declined 13.7% in the past year compared with the Zacks Computer & Technology sector’s decline of 19.8%.
AMC Entertainment (AMC - Free Report) currently has an Earnings ESP of +8.86% and a Zacks Rank #3.
AMC shares have lost 67.1% in the past year. AMC Entertainment is set to report its fourth-quarter 2022 results on Feb 28.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 39.9% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Image: Bigstock
Broadcom (AVGO) to Report Q1 Earnings: What's in the Cards?
Broadcom (AVGO - Free Report) is set to report first-quarter fiscal 2023 results on Mar 2.
For the quarter, Broadcom expects revenues of roughly $8.9 billion, up 16% year over year.
The Zacks Consensus Estimate for revenues currently stands at $8.89 billion, suggesting growth of 15.36% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained steady at $10.16 per share over the past 30 days, indicating 21.1% growth from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 2.43%.
Broadcom Inc. Price and EPS Surprise
Broadcom Inc. price-eps-surprise | Broadcom Inc. Quote
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top-line growth is expected to have benefited from strong demand for its networking solutions that includes Tomahawk 4 and Jericho portfolio. The strong adoption of Tomahawk 4 for data center switching by hyperscalers is expected to have driven top-line growth in the to-be-reported quarter.
Broadcom expects networking revenues to be strong and grow about 20% year over year in the fiscal first quarter.
Moreover, continued strong adoption of its next-generation MegaRAID and storage adapters is expected to have driven Broadcom’s storage connectivity revenues in the to-be-reported quarter. Broadcom expects server storage connectivity revenues to grow more than 50% year over year.
Robust adoption of Wi-Fi 6 and Wi-Fi 6E for access gateways, courtesy of solid demand from homes, enterprises, telcos and other service providers, is expected to have contributed to revenue growth across the broadband end market in the fiscal first quarter. Broadband revenues are expected to grow 30% on a year-over-year basis.
Acceleration in 5G deployment, production ramp-up and increase in radio frequency content is expected to have driven top-line growth.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Broadcom has an Earnings ESP of +1.36% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
Splunk has an Earnings ESP of +0.39% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Splunk is likely to release its fourth-quarter fiscal 2023 results on Mar 1. SPLK shares have declined 13.7% in the past year compared with the Zacks Computer & Technology sector’s decline of 19.8%.
AMC Entertainment (AMC - Free Report) currently has an Earnings ESP of +8.86% and a Zacks Rank #3.
AMC shares have lost 67.1% in the past year. AMC Entertainment is set to report its fourth-quarter 2022 results on Feb 28.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 39.9% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.