Broadcom Earnings Beat: Unanimous Price Target Hike By 4 Analysts
Portfolio Pulse from AJ Fabino
Broadcom Inc (NASDAQ:AVGO) reported Q2 earnings of $10.32 per share, beating the $10.08 estimate, and revenues of $8.73 billion, surpassing the $8.71 billion estimates. The company repurchased 5.6 million shares and announced a quarterly dividend of $4.60 per share. Four analysts raised their price targets for AVGO following the earnings beat.
June 02, 2023 | 5:02 pm
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Broadcom's Q2 earnings beat estimates, leading to unanimous price target hikes by 4 analysts. The company's strong performance and AI growth expectations are driving optimism.
Broadcom's Q2 earnings beat estimates, with revenues of $8.73 billion and earnings of $10.32 per share. This positive news led to 4 analysts raising their price targets for the stock. The company's strong performance, particularly in the networking segment and AI growth expectations, are driving optimism among investors, which is likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100