Broadcom (AVGO) shares dropped 5% in extended trading after the chipmaker issued a disappointing revenue forecast for the current quarter.
- Earnings per share: $3.32 adjusted vs. $3.24 expected
- Revenue: $29.59 billion vs. $29.36 billion expected
For the fiscal fourth quarter, Broadcom expects revenue of $34.8 billion, while analysts were expecting $35.03 billion.
Broadcom's revenue increased 86% from $15.95 billion a year ago.
Net income more than tripled to $13.09 billion.
Broadcom has been one of the major winners of the artificial intelligence boom, designing custom chips for companies including Google, Meta, and OpenAI.
