In This Article:
Broadcom (AVGO) shares jump in extended-hours trading after the chipmaker reported first quarter results that beat on top and bottom lines, driven by artificial intelligence (AI) chip sales. The move higher offers some relief as other chipmakers, like Marvell Technology (MRVL) and Nvidia (NVDA) closed Thursday's session in the red.
Adjusted earnings per share (EPS) came in at $1.60, higher than $1.50 Wall Street estimates, while adjusted net revenue sat at $14.92 billion, higher than the $14.61 billion expected. Broadcom's semiconductor solutions segment accounted for $8.21 billion of revenue. The chipmaker's guidance was also stronger than expected at $14.9 billion.
Market Domination Overtime co-hosts Julie Hyman and Josh Lipton break down the earnings print.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
This post was written by Naomi Buchanan.