Broadcom Inc. logo on building-by Poetra_ RH via Shutterstock

Broadcom Inc. announces a revenue of $6.61 billion for the fourth quarter, beating expectations of $6.52 billion. The company’s revenue increased by 14% year-over-year, driven by strong demand for its semiconductor products. Broadcom’s stock rose by 1.5% following the earnings report.

Broadcom Inc. also reported adjusted earnings of $6.35 per share for the fourth quarter, surpassing analysts’ estimates of $6.25 per share. The company’s earnings grew by 23% year-over-year, fueled by robust sales in its semiconductor solutions segment. Broadcom’s stock price has increased by 40% over the past year.

Broadcom Inc. provided a strong revenue outlook for the first quarter, forecasting sales of $6.9 billion. The company expects continued growth in demand for its semiconductor products, particularly in the data center and networking markets. Broadcom’s positive forecast has bolstered investor confidence in the company’s future prospects.

Read more at Barchart: Could Broadcom Benefit from the OpenAI AMD Deal? AVGO Stock Could Be Cheap Here