Broadcom beats on profit, says AI revenue more than tripled this year
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Broadcom reported better-than-expected fourth-quarter earnings, driven by a significant increase in AI-related revenue, which more than tripled this year. However, overall revenue was slightly below expectations.
December 12, 2024 | 10:30 pm
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Broadcom's fourth-quarter earnings exceeded expectations, largely due to a surge in AI-related revenue, which more than tripled. However, total revenue was slightly below forecasts.
The significant increase in AI-related revenue is a positive indicator for Broadcom's future growth potential, especially in the AI sector. Despite the slight miss in total revenue, the strong earnings performance and AI growth are likely to positively impact the stock price in the short term.
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