Broadcom: 18% EPS growth in Q3

(CercleFinance.com) - On Thursday evening Broadcom reported Q3 non-GAAP EPS that is up 18% to $1.
24, with adjusted EBITDA that rose 42% to $8.22bn, on revenues that increased 47% to nearly $13.1bn.

These results reflect the continued strength of our AI semiconductor and VMware solutions, says CEO Hock Tan, noting that VMware's transformation continues to progress very well.

We expect AI revenues to reach $12bn in FY 2024, driven by Ethernet networks and custom gas pedals for AI data centers, he adds.

For the last three months of its fiscal year ending in early November, Broadcom anticipates an adjusted EBITDA margin of around 64%, for projected revenues of around $14bn.


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