Broadcom (AVGO) Beats Earnings: Best Managed Semiconductor

Broadcom (AVGO) reported an earnings beat. Its adjusted EPS came in at $11.06 versus an estimated $10.95 and revenue came in at $9.29B versus an estimated $9.28B. AVGO sees FY24 revenue of $50B versus an estimated $46B. A Summit Insights analyst notes that they see it outperforming its FY24 outlook as its “cyclical weakness” is already priced in, and it’s one of the best managed semiconductors. Additionally, UBS likes the story of income investors looking for stability and growth. Caroline Woods weighs in on this story. Tune in to find out more about the stock market today.