Recap: Broadcom Q1 Earnings

Shares of Broadcom AVGO fell in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 25.90% year over year to $6.61, which beat the estimate of $6.55.

Revenue of $6,655,000,000 up by 13.61% year over year, which beat the estimate of $6,610,000,000.

Guidance

Broadcom Sees Q2 2021 Revs ~$6.5B Vs $6.33B Est; Sees Adj. EBITDA ~59% Of Projected Revenue

Details Of The Call

Date: Mar 04, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/mg5sthrk

Price Action

Company's 52-week high was at $495.14

52-week low: $155.67

Price action over last quarter: Up 5.96%

Company Description

Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company has acquired Brocade, CA Technologies, and Symantec's enterprise security business to bolster its offerings in infrastructure software.