Broadcom's revenue jumps 16% to $6.8B in Q3

Thursday, 02. September 2021 22:17

Broadcom Inc. said on Thursday its revenue in the third quarter of fiscal 2021 stood at $6.8 billion, climbing 16% compared to the same period a year earlier and beating estimates.

GAAP diluted earnings per share (EPS) soared from $1.45 in the same trimester last year to $4.20, while adjusted EPS surged 29% to $6.96. The chipmaker added its net income in the three-month period amounted to $1.9 billion, soaring 1,188% from $688 million achieved in the same period in 2020.

"Broadcom delivered record revenues in the third quarter reflecting our product and technology leadership across multiple secular growth markets in cloud, 5G infrastructure, broadband, and wireless," CEO Hock Tan stated.

Broadcom shares were flat in after-hours trading despite better-than-expected results.

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Breaking the News / NP