Broadcom Inc. (AVGO) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $5.503 billion, or $1.14 per share. This compares with $1.325 billion, or $0.28 per share, last year.
Excluding items, Broadcom Inc. reported adjusted earnings of $7.823 billion or $1.60 per share for the period.
Analysts on average had expected the company to earn $1.51 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 24.7% to $14.916 billion from $11.961 billion last year.
Broadcom Inc. earnings at a glance (GAAP) :
-Earnings: $5.503 Bln. vs. $1.325 Bln. last year.
-EPS: $1.14 vs. $0.28 last year.
-Revenue: $14.916 Bln vs. $11.961 Bln last year.
-Guidance:
Next quarter revenue guidance: $14.9 Bln
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