Analysts and investors will likely be looking for commentary on artificial intelligence revenue when semiconductor company Broadcom Inc (NASDAQ:AVGO) reports third-quarter financial results Thursday after market close.
Earnings Estimates: Analysts expect Broadcom to report third-quarter revenue of $12.96 billion, according to data from Benzinga Pro.
The company reported revenue of $8.88 billion in last year's third quarter. Broadcom has beaten analyst estimates for revenue in two straight quarters and 16 of the past 17 quarters.
Analysts expect the company to report third-quarter earnings per share of $1.20, compared to $1.05 in last year's third quarter. The company has beaten analyst estimates for earnings in 13 straight quarters.
Thursday's earnings report comes as Broadcom stock is up 42% year-to-date in 2024 as seen on the Benzinga Pro chart below.
Did You Know?
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What Analysts Are Saying: Broadcom is one of several companies that could benefit from a $150 billion artificial intelligence silicon market opportunity, JPMorgan analyst Harlan Sur said in July.
The analyst said the AI sector sets Broadcom up for growth ahead both in the near term and long term.
"The ...
