9/1/2022, 10:16 PM (Source: TeleTrader)
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Broadcom's Q3 revenue surges 25% to $8.5B

Broadcom Inc. announced on Thursday that its revenue for the third quarter of fiscal 2022 reached $8.5 billion, jumping 25% on an annual basis. The company's GAAP diluted earnings per share in the third trimester of the fiscal year stood at $7.15, skyrocketing around 70% from the same period last year. Net income landed at $3.1 billion, rising from last year's $1.9 billion. Broadcom is expecting a revenue of $8.9 billion in the fourth quarter, which would mark an annual increase of 20%.

"Broadcom's record third quarter results were driven by robust demand across cloud, service providers, and enterprise," company CEO Hock Tan commented adding that they "expect solid demand across our end markets to continue in the fourth quarter, reflecting continued investment by our customers of next generation technologies in data centers, broadband, and wireless."

Broadcom shares rose 2.26% in after-hours trading following the release of the report.

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