Broadcom Inc Exceeds Revenue Estimates
This is a Broadcom news story, published by Yahoo Finance, that relates primarily to William Stein news.
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Broadcom IncBenzinga
•Technology
Technology
Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking
84% Informative
Broadcom Inc reported second-quarter revenue of $15 billion , up 20% , beating analyst estimates of $14.99 billion .
The semiconductor company's AI revenue grew 46% to over $4.4 billion , driven by robust demand for AI networking.
Truist Securities analyst William Stein reiterated Broadcom with a Buy and raised the price target from $267 to $295 .
Cantor analyst Prisco remains Prisco ’s top pick of Broadcom .
AI Semi revenues were guided at +16% Q/Q and 60% Y/Y for the third quarter .
Management then suggested improved visibility today that gives them confidence that the AI semiconductor business can grow at this ~60% rate for all of fiscal 2025 and 2026 .
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