Broadcom raises AI revenue outlook with $11 billion in sales projection, shares surge over 14% premarket.

From Investing.com: 2024-06-13 04:40:19

Broadcom raises annual revenue guidance for AI-optimized chips, now projecting over $11 billion in sales. Second quarter AI product sales hit $3.1 billion. Analysts predict $5.6 billion in AI sales for Broadcom. CEO Tan hints at “lumpiness” in quarterly shipments. Shares surge with news of ten-for-one stock split. Second quarter earnings beat expectations with $10.96 EPS on $12.49 billion revenue. Semiconductor solutions revenue up 6% to $7.20 billion, infrastructure software sales more than double to $5.29 billion. Broadcom shares up 37% this year.



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