Broadcom's earnings beat led to a drop in stock price due to concerns about future growth.

From CNBC: 2024-09-05 20:10:38

Broadcom reported strong earnings driven by AI and VMware sales, beating revenue forecasts at $13.07 billion. Adjusted EPS grew 18% to $1.24, with EBITDA at $8.22 billion. The semiconductor solutions business grew 5%, while AI and networking revenue increased 43%. The company expects Q4 revenue of $14 billion, with AI sales forecasted at $12 billion.



Read more at CNBC:: Why Broadcom is tumbling after an earnings beat — and how to play dip