Broadcom (NASDAQ: AVGO) is set to report its third-quarter fiscal 2024 results on Sep. 5.
The Zacks Consensus Estimate for revenues is pegged at $12.9 billion, suggesting growth of 45.36% from the year-ago quarter's reported figure.
The consensus mark for earnings has been steady at $1.20 per share over the past 30 days, indicating 14.29% growth from the figure reported in the year-ago quarter.
Broadcom's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 2.74%.
AVGO's fiscal third-quarter results will provide investors an opportunity to analyze the prospects of AI and Generative AI (GenAI). While continued momentum will boost investor confidence, any weakness that reflects the cooling of an AI-fueled rally can negatively impact Broadcom's share price movement.
Broadcom Inc. Price and EPS Surprise
Broadcom Inc. price-eps-surprise | Broadcom Inc. Quote
Let's see how things have shaped up for AVGO shares prior to this announcement:
Factors to Note Prior to AVGO's Q3 Earnings
Broadcom's fiscal third-quarter results are expected to have benefited from its expanding AI and Gen AI offerings. In the second quarter of fiscal 2024, AI revenues surged an astounding 280% year over year and are now expected to be more than $11 billion for fiscal 2024.
The Zacks Consensus Estimate for fiscal third-quarter Semiconductor Solutions revenues are pegged at $7.38 billion, indicating 6.3% year-over-year growth.
Broadcom's expanding clientele, which includes the likes of ...
