Broadcom Sees FY24 Revenue ~$50B vs $45.76B Est., Sees Adj. EBITDA Of ~60% Of Projected Revenue
Portfolio Pulse from Benzinga Newsdesk
Broadcom forecasts FY24 revenue to be approximately $50 billion, surpassing the estimated $45.76 billion. The company also anticipates an adjusted EBITDA margin of around 60% of the projected revenue.
December 07, 2023 | 9:17 pm
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Broadcom Inc. (AVGO) expects FY24 revenue to reach about $50 billion, exceeding analysts' expectations of $45.76 billion, and targets an adjusted EBITDA margin of approximately 60%.
Broadcom's projection of higher-than-expected revenue for FY24 and a strong adjusted EBITDA margin is a positive signal for investors, likely leading to a bullish sentiment in the short term. The significant beat on revenue estimates and the high profitability expectation, as indicated by the EBITDA margin, could result in an increase in stock price as the market reacts to the positive guidance.
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