Broadcom beats earnings estimates with record revenue, AI revenue triples, and stock soars 95%.

From Nasdaq: 2024-12-13 11:52:00

Broadcom (AVGO) exceeded analyst earnings estimates by 2% in Q4, reporting a record revenue of $51.6 billion for fiscal year 2024, a 44% increase. AI-related revenue surged by 220% to $12.2 billion. The company announced an 11% increase in quarterly dividend, marking the fourteenth consecutive annual increase since 2011.

Broadcom stock soared 95% this year to all-time highs after the strong earnings report. The company’s role in AI infrastructure and custom silicon markets is crucial, with AI investments shaping the stock market. Analysts may raise earnings estimates following the impressive results.

Custom-designed chips for AI, like Broadcom’s, are in high demand, driving a surge in the industry. These Application-Specific Integrated Circuits (ASICs) optimize AI workloads, offering efficiency and cost-effectiveness. Broadcom’s breakout to all-time highs followed strong quarterly results, affirming its growth potential and role in the semiconductor landscape.



Read more at Nasdaq: Broadcom Beats Earnings Estimates as AI Revenue Triples