Investing.com - Broadcom (NASDAQ:AVGO) reported on Thursday second quarter earnings that matched analysts' forecasts and revenue that topped expectations.
Broadcom announced earnings per share of $5.14 on revenue of $5.74B. Analysts polled by Investing.com anticipated EPS of $5.14 on revenue of $5.69B. That with comparison to EPS of $5.21 on revenue of $5.52B in the same period a year before.Broadcom had reported EPS of $5.25 on revenue of $5.86B in the previous quarter.Analysts are expecting EPS of $5.32 and revenue of $5.78B in the upcoming quarter.
Broadcom shares are down 2.11% from the beginning of the year and are trading at $305.70 , down-from-52-week-high.They are outperforming the S&P 500 which is down 4.09% year to date.
Broadcom shares lost 1.18% in after-hours trade the report.
Broadcom follows other major Technology sector earnings this month
Broadcom's report follows an earnings beat by NVIDIA on Thursday, May 21, 2020, who reported EPS of $1.8 on revenue of $3.08B, compared to forecasts EPS of $1.65 on revenue of $2.97B.
Cisco had beat expectations on Wednesday, May 13, 2020 with third quarter EPS of $0.79 on revenue of $11.98B, compared to forecast for EPS of $0.71 on revenue of $11.88B.
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