Broadcom reports Q2 beat, guides higher By Investing.com

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Broadcom reports Q2 beat, guides higher

Published Jun 01, 2023 16:46

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Broadcom (NASDAQ:AVGO) reported its Q2 results, with EPS of $10.32 coming in better than the consensus estimate of $10.12. Revenue grew 8% year-over-year to $8.73 billion, compared to the consensus of $8.7B.

According to CEO Hock Tan, Broadcom's Q2 results were driven by demand for next-generation technologies from hyperscale, while enterprise and service providers continued to sustain.

For Q3/23, the company expects revenue of $8.85B, above the consensus estimate of $8.72B. Adjusted EBITDA is expected to be approximately 65% of projected revenue.

Furthermore, the company declared a quarterly dividend of $4.60 per share, or $18.4 annualized, for an annual yield of 2.3%. The dividend will be payable on June 30, 2023, to stockholders of record on June 22, 2023, with an ex-dividend date of June 21, 2023.

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