Semiconductor firm Broadcom, Inc. (NASDAQ: AVGO) reported larger revenues and adjusted earnings for the third quarter of 2024 amid continued sturdy demand. The Q3 numbers additionally topped expectations.
Earnings, excluding non-recurring objects, got here in at $1.24 per share within the July quarter, in comparison with $1.05 per share within the comparable interval a 12 months earlier. On an unadjusted foundation, it was a web lack of $1.88 billion or $0.40 per share in Q3, in comparison with a revenue of $3.3 billion or $0.77 per share within the prior-year quarter.
Third-quarter revenues totaled $13.07 billion, larger than the $8.88/billion income reported within the third quarter of 2023. For the fourth quarter of 2024, the administration expects revenues of round $14.0 billion.