Broadcom Inc. (AVGO) reported a decline in earnings for the second quarter compared to the same period last year, though results surpassed Wall Street estimates.
The company posted earnings of $2.12 billion, or $4.42 per share, in contrast to $3.48 billion, or $8.15 per share, in the second quarter of the previous year.
Excluding special items, Broadcom Inc. announced adjusted earnings of $5.39 billion, or $10.96 per share, for the quarter.
According to data compiled by Thomson Reuters, analysts had projected average earnings of $10.84 per share, typically excluding special items.
Revenue for the quarter saw a substantial increase, rising 43.1% to $12.49 billion from $8.73 billion in the previous year.
Key Financial Metrics (GAAP) for Q2:
- Earnings: $2.12 billion vs. $3.48 billion last year
- EPS: $4.42 vs. $8.15 last year
- Revenue: $12.49 billion vs. $8.73 billion last year
Guidance:
- Full-year revenue guidance is projected at $51.0 billion.
