Broadcom Q1 results & guidance beat estimates, announces dividend By Investing.com

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Broadcom Q1 results & guidance beat estimates, announces dividend

Published Mar 02, 2023 16:46

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Broadcom Q1 results & guidance beat estimates, announces dividend

AVGO

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By Davit Kirakosyan

Broadcom (NASDAQ:AVGO) reported its Q1 results, with EPS of $10.33 coming in better than the consensus estimate of $10.18. Revenue grew 16% year-over-year to $8.92 billion, compared to the consensus estimate of $8.9B.

"Broadcom's first quarter performance reflects continued strength in infrastructure demand across all our end markets," said Hock Tan, President and CEO of Broadcom. "Looking ahead, we are confident our growth will be driven by sustained leadership in next generation technologies across all of our core markets, and strong partnerships with our customers."

For Q2/2023, the company expects revenue of $8.7B, better than the consensus estimate of $8.58B.

Furthermore, the company declared a quarterly dividend of $4.60 per share, or $18.4 annualized, for an annual yield of 3.1%.

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