• 4 days ago
Broadcom surpassed fourth-quarter earnings estimates with higher-than-expected adjusted EPS and revenue closely aligning with projections. The chipmaker reported a more than 50% revenue increase year-over-year and saw AI revenue triple to over $12 billion, driven by generative AI demand and custom chip collaborations with three major cloud clients. Broadcom CEO Hock Tan projects these clients will deploy 1 million custom AI chips by 2027. Broadcom announced a quarterly dividend hike for fiscal 2025. Shares jumped 13% in extended trading.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Broadcom surpassed fourth quarter earning estimates with a higher than expected adjusted EPS
00:07and revenue closing aligned with projections. The chipmaker reported a more than 50%
00:12revenue increase year over year and saw AI revenue triple over $12 billion,
00:17driven by generative AI demand and custom chip collaborations with three major cloud clients.
00:22Broadcom CEO Hawk Tan projects these clients will deploy 1 million custom AI chips by 2027.
00:28The company announced a quarterly dividend hike for fiscal 2025
00:31and shares jumped 13% in extended trading.
00:34For all things money, visit Benzinga.com slash GSTV.

Recommended

1:31
I
Up next
Spinach Recalled After Testing Positive for Listeria
Wibbitz Top Stories
0:45
Rising Food Costs Push Consumers To Cook At Home As Restaurants Struggle With Traffic Declines
Benzinga
1:31
Recently Spotted Asteroid Set for Near Miss With Earth
Wibbitz Top Stories
1:31
Donald Trump Wants to End Taxes on Tips
Wibbitz Top Stories
0:44
Walmart Named Yahoo Finance's Company Of The Year. Stock Up Over 80% Year-To-Date.
Benzinga
0:39
MSNBC and CNN See Sharp Post-Election Drops, As Fox News Sees Surge
Benzinga
0:27
Palantir Soars 13% After Beating Q3 Estimates, Driven by AI Growth
Benzinga
0:38
Amazon Workers Vote To Strike Over Contract Talks
Benzinga
0:39
Nvidia Hits Record Close, Fueled by AI Spending. Investors Anticipate Earnings Season From Major Tech Customers.
Benzinga
0:42
Cisco's Revenue Declines For Fourth Straight Quarter Despite Beating EPS, Revenue Expectations. AI Demand Spurs New Revenue Targets.
Benzinga
0:33
Arm Reports Impressive 47% YoY Revenue Growth in Q4, Propelled by Strong Licensing Business
Benzinga
0:35
Nvidia Faces Key Test With Q3 Report As Investors Eye AI Growth
Benzinga
0:39
TSMC Raises Revenue Outlook for 2024, As AI Chip Demand Fuels Record-Breaking Revenue
Benzinga
0:44
CEO Andy Jassy Eyes AI As Key Growth Driver For Amazon’s Future, Seen As 'Once-In-A-Lifetime' Opportunity
Benzinga
0:46
Nvidia Rival Cerebras Systems Files for IPO Amid Competitive AI Chip and Cloud Market
Benzinga
0:45
Adobe Shares Drop 14% as Revenue Guidance Misses Expectations for Fiscal Q1. Analysts Share Mixed Reactions.
Benzinga
0:43
Amazon's Market Cap Soars to $2 Trillion, Fueled by AI Investments and Stock Surge
Benzinga
0:37
Palantir Stock Soars 23% As U.S. Government Spending on AI Tech Boosts Q3 Revenue
Benzinga
0:41
Dell Shares Drop 10% As AI-Powered Revenue Growth Fails To Offset Weak Q4 Forecast
Benzinga
0:41
Zoom Shares Drop 4% Despite Beating Q3 Estimates With Earnings and Revenue Topping Forecasts
Benzinga
0:38
Micron's Posts Strong Quarterly Results, Forecasts Steady Revenue on AI Product Demand
Benzinga
0:42
IBM Shares Slip On Q3 Net Loss Tied To One-Time Pension Charge
Benzinga
0:29
Adobe Beats Q3 Earnings and Revenue Estimates, Driven by Creative Cloud and Firefly AI. Stock Slides on Weak Q4 Guidance.
Benzinga
0:38
Dell Technologies Surpasses Expectations, Boosts Full-Year Revenue Guidance as AI-Optimized Server Orders Drive Growth
Benzinga
0:37
TSMC November Revenue Up 34% on Strong AI Demand
TaiwanPlus News