Broadcom Stock Is Surging Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Broadcom Inc (NASDAQ:AVGO) shares surged on Thursday following strong Q2 financial results, beating revenue and EPS estimates. The company reported $12.487 billion in revenue and $10.96 EPS, driven by AI demand and VMware. Broadcom also declared a quarterly dividend of $5.25 per share and announced a 10-for-1 stock split. Analysts raised price targets, contributing to the stock's 13.9% increase.
June 13, 2024 | 1:15 pm
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Broadcom's strong Q2 results, driven by AI demand and VMware, beat revenue and EPS estimates. The company declared a $5.25 per share dividend and announced a 10-for-1 stock split. Analysts raised price targets, leading to a 13.9% stock surge.
Broadcom's strong financial performance, dividend declaration, and stock split announcement are highly positive indicators. The raised price targets from multiple analysts further support the stock's upward momentum.
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