Broadcom Reports Upbeat Q1 Earnings, Expecting Strong Outlook

Shares of Broadcom Ltd. rose more than 4% in the extended session on Wednesday after the company reported fiscal first-quarter earnings results that beat market forecasts.

The chipmaker posted adjusted quarterly earnings of $3.63 a share on adjusted revenue of $4.15 billion, topping expectations calling for 3.48 a share on revenue of $4.08 billion.

Broadcom expects adjusted second-quarter revenue to be in the range between $4.025 and $4.175 billion. If confirmed, it would beat Wall Street’s current estimate of $3.9 billion.

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