Broadcom Reports Q1 Earnings Miss

Broadcom AVGO reported worse-than-expected first-quarter EPS and sales results.

The company reported first-quarter earnings of $5.25 per share on Thursday, which missed the analyst consensus estimate of $5.34 by 1.69%. This is a 5.41% decrease over earnings of $5.55 per share from the same period last year.

The company reported quarterly sales of $5.858 billion, which missed the analyst consensus estimate of $6 billion by 2.37%. This is a 1.19% increase over sales of $5.789 billion the same period last year.

Broadcom sees second-quarter sales at $5.7 billion +/- $150 million versus the $5.94 billion estimate, adjusted EBITDA $3.135 billion +/- $75 million.

Broadcom shares traded down 11.05% at $218.78 on Thursday. The stock has a 52-week high of $331.58 and a 52-week low of $216.34.